Owning and operating a business is a venture that many seek to accomplish in their life. Growing that business into a nationally or internationally recognized brand can lead not only to personal success but also to generational wealth and security for their family. Unfortunately, growing your small business into an empire means overcoming already-established organizations, and you may need the support of an antitrust violation lawyer.
There are laws in place that make it illegal for businesses to monopolize the market. Our team at The Vitaliano Law Firm has the experience you deserve to fight back if you are accused of such violations.
Antitrust laws are those that govern monopolizing practices by businesses. There are three main laws that govern these practices, all of which are at the federal level. The purpose of these laws is to put in place business practices by which all companies should navigate. They seek to keep businesses competitive with one another in order to provide a fair market for consumers. If one business obtains a monopoly, consumers have their choice taken away.
The three laws are:
These laws seek to keep business practices throughout the country fair and equitable in a capitalist market. Competition drives businesses to create better products at lower costs, whose savings are intended to be passed on to the consumer. When companies violate these laws, they create an unfair advantage and corner the market for their own benefit, leaving consumers to pay the price. However, obtaining a market share through proper business decisions is not against the law.
Working with an experienced and qualified antitrust attorney in Staten Island, NY, you can protect your business should you be accused of a violation. This includes helping fight back against class-action lawsuits. Our attorneys can help with a variety of claims against you and with a variety of business practices to prevent such claims, including:
These services are just a few of the ways an antitrust lawyer, like the team at The Vitaliano Law Firm, can help you. It does not encompass all of the services provided. With our support, you can get the business advice you need prior to any potential violations or investigations.
A: For those found in violation of antitrust laws, the penalties to the business can be quite severe. Typical penalties include the recovery of all attorney fees, any damages, fines of up to $250,000 if an individual is in violation, and up to $1 million for businesses. If an individual is in violation, they could not only face fines, but they could also face up to three years in prison.
A: Claims can be brought against individuals or businesses by both state and federal agencies as well as by private parties. Often, a state-level claim will be filed by the state attorney general’s office. The Federal Trade Commission and the US Department of Justice can also file claims against businesses that are in violation. Individuals filing a claim are often seeking to recover damages due to violations of the Sherman or Clayton Act.
A: Violations against The Sherman Act are the most frequently claimed. These actions include fixing prices, rigging bids, and violating the market allocation among competitors. These violations eliminate competition in the market and drive up prices for consumers. These violations are likely to be prosecuted criminally.
A: An antitrust violation is any intentional behavior, business practice, or agreement made in which an individual, business, or group of businesses seek to eliminate competition in their market. These violations come at the cost of consumers, who are left with higher price tags. A competitive market allows companies to produce goods and services in ways that drive down prices rather than up.
Violations of antitrust laws can be extremely damaging and come at a high cost. Successful businesses may be accused of such practices because they have a superior good or service that consumers want.
Your company deserves the support and counsel of an aggressive, knowledgeable, and experienced attorney to help prevent and fight back against such accusations. At The Vitaliano Law Firm, the help you need starts with a consultation. Contact our offices today, and let us review your case.