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Vertical Restraints
Vertical restraints are competition restrictions in agreements between firms or individuals at different levels of the production and distribution process. Vertical restraints are to be distinguished from so-called "horizontal restraints", which are found in agreements between horizontal competitors. Vertical restraints can take numerous forms, ranging from a requirement that dealers accept returns of a manufacturer's product, to resale price maintenance agreements setting the minimum or maximum price that dealers can charge for the manufacturer's product. So-called "intrabrand restraints" such as resale price maintenance govern products made by a particular manufacturer, while "interbrand restraints" regulate a dealer's or manufacturer's relationship with its trading partner's rivals (e.g., "English clauses"). Quintessential examples of interbrand restraints include tying contracts, whereby a purchaser agrees to purchase a second product as a condition of obtaining a so-called " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resale Price Maintenance
Resale price maintenance (RPM) or, occasionally, retail price maintenance is the practice whereby a manufacturer and its distributors agree that the distributors will sell the manufacturer's product at certain prices (resale price maintenance), at or above a price floor (minimum resale price maintenance) or at or below a price ceiling (maximum resale price maintenance). If a reseller refuses to maintain prices, either openly or covertly (see grey market), the manufacturer may stop doing business with it. Resale price maintenance is illegal in many jurisdictions. Resale price maintenance prevents resellers from competing too fiercely on price, especially with regard to fungible goods. Otherwise, resellers worry it could drive down profits for themselves as well as for the manufacturer. Some argue that the manufacturer may do this because it wishes to keep resellers profitable, thus keeping the manufacturer profitable. Others contend that minimum resale price maintenance, for ins ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tying (commerce)
Tying (informally, product tying) is the practice of selling one product or service as a mandatory addition to the purchase of a different product or service. In legal terms, a ''tying sale'' makes the sale of one good (the ''tying good'') to the de facto customer (or de jure customer) conditional on the purchase of a second distinctive good (the ''tied good''). Tying is often illegal when the products are not naturally related. It is related to but distinct from freebie marketing, a common (and legal) method of giving away (or selling at a substantial discount) one item to ensure a continual flow of sales of another related item. Some kinds of tying, especially by contract, have historically been regarded as anti-competitive practices. The basic idea is that consumers are harmed by being forced to buy an undesired good (the tied good) in order to purchase a good they actually want (the tying good), and so would prefer that the goods be sold separately. The company doing this bund ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exclusive Dealing
In Economics and Law, exclusive dealing arises when a supplier entails the buyer by placing limitations on the rights of the buyer to choose what, who and where they deal. This is against the law in most countries which include the USA, Australia and Europe when it has a significant impact of substantially lessening the competition in an industry.Commission, Australian Competition and Consumer (2013-01-09). "Exclusive dealing". Australian Competition and Consumer Commission. Retrieved 2020-11-03. When the sales outlets are owned by the supplier, exclusive dealing is because of vertical integration, where the outlets are independent exclusive dealing is illegal (in the US) due to the Restrictive Trade Practices Act, however, if it is registered and approved it is allowed. While primarily those agreements imposed by sellers are concerned with the comprehensive literature on exclusive dealing, some exclusive dealing arrangements are imposed by buyers instead of sellers Exclusive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sherman Antitrust Act
The Sherman Antitrust Act of 1890 (, ) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce. It was passed by Congress and is named for Senator John Sherman, its principal author. The Sherman Act broadly prohibits 1) anticompetitive agreements and 2) unilateral conduct that monopolizes or attempts to monopolize the relevant market. The Act authorizes the Department of Justice to bring suits to enjoin (i.e. prohibit) conduct violating the Act, and additionally authorizes private parties injured by conduct violating the Act to bring suits for treble damages (i.e. three times as much money in damages as the violation cost them). Over time, the federal courts have developed a body of law under the Sherman Act making certain types of anticompetitive conduct per se illegal, and subjecting other types of conduct to case-by-case analysis regarding whether the conduct unreasonably restrains trade. The law attempts to prevent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clayton Act
The Clayton Antitrust Act of 1914 (, codified at , ), is a part of United States antitrust law with the goal of adding further substance to the U.S. antitrust law regime; the Clayton Act seeks to prevent anticompetitive practices in their incipiency. That regime started with the Sherman Antitrust Act of 1890, the first Federal law outlawing practices that were harmful to consumers (monopolies, cartels, and trusts). The Clayton Act specified particular prohibited conduct, the three-level enforcement scheme, the exemptions, and the remedial measures. Like the Sherman Act, much of the substance of the Clayton Act has been developed and animated by the U.S. courts, particularly the Supreme Court. Background Since the Sherman Antitrust Act of 1890, courts in the United States had interpreted the law on cartels as applying against trade unions. This had created a problem for workers, who needed to organize to balance the equal bargaining power against their employers. The Sherman Act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Albrecht V
Albrecht ("noble", "bright") is a given name or surname of German origin and may refer to: First name *Albrecht Agthe, (1790–1873), German music teacher *Albrecht Altdorfer, (c. 1480–1538) German Renaissance painter *Albrecht Becker, (1906–2002), German production designer, photographer, and actor *Albrecht Berblinger, (1770–1829), German constructor (the tailor of ulm) *Albrecht Brandi, (1914–1966), German U-boat commander in World War II *Albrecht, Duke of Württemberg, (1865–1939), German field marshal in World War I *Albrecht von Wallenstein, (1583–1634), Bohemian soldier and politician during the Thirty Years' War *Albrecht Dieterich, (1866–1908) German classical philologist and religious scholar *Albrecht Dietz, (1926–2012), German entrepreneur and scientist *Albrecht Dürer, (1471–1528), German artist and mathematician * Albrecht Dürer the Elder, German goldsmith and father of Albrecht Dürer *Albrecht Elof Ihre, (1797–1877), Swedish diplomat and politi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leegin Creative Leather Products V
''Leegin Creative Leather Products, Inc. v. PSKS, Inc.'', 551 U.S. 877 (2007), is a US antitrust case in which the United States Supreme Court overruled '' Dr. Miles Medical Co. v. John D. Park & Sons Co.'' ''Dr Miles'' had ruled that vertical price restraints were illegal ''per se'' under Section 1 of the Sherman Antitrust Act. ''Leegin'' established that the legality of such restraints are to be judged based on the rule of reason. Facts Leegin, a manufacturer of leather apparel, concluded that its interests would be best served by opting out of a price war "race to the bottom," focusing instead on quality and brand cachet. Accordingly, with specific exceptions, it decided to refuse sale to retailers if they intended to discount its products below their recommended retail price. Five years after this policy was introduced, Leegin discovered that Kay's Kloset was violating the policy by marking down the Leegin products by 20%. When Kay's refused to comply with Leegin's policy, L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Law
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territorial boun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
