There have been three core antitrust laws on the books for some time. Each of these is in place to keep prices fair, protect companies and consumers, and offer incentives for businesses — among various other things. Business owners in Michigan and elsewhere who break antitrust laws could face serious consequences, both civil and criminal.
The core antitrust laws are…
The are the Sherman Act, the Federal Trade Commission Act and the Clayton Act. The Sherman Act primarily prohibits unreasonable restraint of trade and monopolization. Those who are in violation of the Sherman Act may face hefty fines, up to $100 million, and up to 10 years behind bars.
The FTC Act prohibits unfair practices or acts and unfair approaches to harming competition. Only the FTC can file cases under this act. The Clayton Act is a catch-all that covers every practice not covered by the Sherman and FTC Acts. Then consequences for violations of both of these acts are usually civil in nature.
When accused of breaking antitrust laws
Business owners in Michigan who find themselves accused of breaking antitrust laws have a lot on the line. Not only could they face significant criminal consequences that could ruin their personal and professional lives, but they may also face severe civil consequences which can harm their companies. The sooner one acts when for breaking antitrust laws the better. An experienced criminal defense attorney can review the details of the case, question any evidence offered and work with prosecuting attorneys to help the client achieve the best outcome possible.