The word "trust" can mean a lot of things, but in the context of commerce it refers to an organization (typically a very large corporation) that uses certain tactics to eliminate competition and consumer choice. These tactics may include hostile takeovers, unchecked mergers, or price fixing schemes, for example. Most antitrust regulation is done at the federal level, since trusts almost always involve interstate commerce, but state antitrust laws also play a role.
Tennessee code declares that "Trusts, etc., lessening competition or controlling prices unlawful and void." The following offenses are prohibited under Tennessee antitrust law:
Consumers and other businesses may file civil claims for acts that violate Tennessee's antitrust law, as the following chart explains.
|Antitrust Code Section||47-25-101, et seq.|
|Is a Private Lawsuit Possible?||Yes; attorney general and reporter power to institute criminal proceedings|
|Time Limit to Bring Claim||Not specified|
|Can a Successful Plaintiff Recover Attorneys' Fees?||No|
Note: State laws are constantly changing -- contact a Tennessee antitrust attorney or conduct your own legal research to verify the state law(s) you are researching.
Overview of Federal Antitrust Regulations
There are three main federal antitrust laws that pertain to every business entity that crosses state lines:
Generally, these laws are flexible enough to allow courts to rely heavily on the facts of each case. If a business practice unfairly restricts competition, artificially inflates prices, reduces overall quality as a result, or otherwise hurts the consumer, then it may be in violation of federal law.
Research the Law
Tennessee Antitrust Laws: Related Resources
Contact a qualified attorney.