This memornadum addresses two antitrust concerns that should be noted by emerging companies: Avoiding the creation of documents that might invite antitrust problems, and avoiding premerger coordination of commercial activities and uncontrolled exchange of compettitively sensitive information.
South Carolina Antitrust Disclosure Compliance Memorandum
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US-TC0308
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The state attorney general enforces antitrust laws. Corporations may face fines for antitrust violations, but individuals don't. Foreign companies that commit antitrust violations may be prohibited from doing further business in South Carolina. Antitrust violators could face both criminal and civil penalties.
Per se violations of the Sherman Act include price fixing, bid-rigging, horizontal customer allocation, and territorial allocation agreements. A per se violation requires no further inquiry into the practice's actual effect on the market or the intentions of those individuals who engaged in the practice.
South Carolina law prohibits agreements, contracts, or arrangements between two or more individuals or corporations that try to do any of the following: Lessen the full and free competition in the sale or manufacture of goods in South Carolina.
The Sherman Act, the Federal Trade Commission Act, and the Clayton Act are the three pivotal laws in the history of antitrust regulation. Today, the Federal Trade Commission, sometimes in conjunction with the U.S. Department of Justice, is tasked with enforcing federal antitrust laws.
The state attorney general enforces antitrust laws. Corporations may face fines for antitrust violations, but individuals don't. Foreign companies that commit antitrust violations may be prohibited from doing further business in South Carolina. Antitrust violators could face both criminal and civil penalties.
SECTION 39-5-20. Unfair methods of competition and unfair or deceptive acts or practices unlawful; application of federal act. (a) Unfair methods of competition and unfair or deceptive acts or practices in the conduct of any trade or commerce are hereby declared unlawful.
The Antitrust Division enforces federal antitrust and competition laws. These laws prohibit anticompetitive conduct and mergers that deprive American consumers, taxpayers, and workers of the benefits of competition.
S.C. Code § 16-13-230 defines it this way: (A) A person committing a breach of trust with a fraudulent intention or a person who hires or counsels another person to commit a breach of trust with a fraudulent intention is guilty of larceny.