Antitrust and Colluding with Competitors
Competition Law: Responding to a Shady Proposal
Keeping ahead of the competition can be incredibly challenging given today’s competitive marketplace. Unfortunately, some employees and companies will cheat to get to the top in order to have a competitive advantage. Make sure your team is doing deals with prospects and clients - not competitors.
In this microlesson, we explain how competition laws can be very strict when it comes to competitors entering agreements where they set prices, the number of goods sold, or the quality of available goods. We teach employees how to spot these schemes and respond in a polite, professional, and smart way.
- Employees should be on the lookout if a competitor proposes something that would set prices, divide customers, clients, or territories, force out other competitors, or limit the quantity of goods or services available.
- If a competitor does any of that: (1) clearly state that you don’t agree, (2) leave or do something you’ll remember, and then (3) tell your boss, a compliance leader or a legal leader what happened.