At times it seems like an open battle: consumers always looking for the lowest prices, and companies always trying to charge as much as they can for their products while remaining competitive. And as long as the battle is open, transparent, and above board, we’re generally OK with it. But what if a few companies conspire to set an inflated price? Or unite to artificially control supply? Or what if all the suppliers of a product merge so that they’re the only game in town? Luckily for consumers in the Bluegrass State, we have laws created to make sure pricing fair and protect open markets. Here is an introduction to antitrust laws in Kentucky.
Antitrust Laws
State antitrust laws are intended to prevent certain companies gaining an unfair competitive advantage in the consumer market by prohibiting collusion between companies and certain mergers and acquisitions as well. In order to enforce these provisions, Kentucky citizens, as well as the state attorney general, can bring private lawsuits against companies for antitrust violations.
Antitrust Law in Kentucky
The table below highlights the specifics of Kentucky’s antitrust laws.
| Antitrust Code Section | Kentucky Revised Statutes 367.175, et seq.: Consumer Protections |
| What is Prohibited? | Every contract, combination in the form of trust and otherwise, or conspiracy, in restraint of trade or commerce. Any person or persons to monopolize, or attempt to monopolize or combine or conspire with any other person or persons to monopolize any part of the trade or commerce. |
| Is a Private Lawsuit Possible? | Yes |
| Time Limit to Bring Claim | 5 yrs. unless specified otherwise |
| Can a Successful Plaintiff Recover Attorneys' Fees? | No |
Antitrust Enforcement
Kentucky statutes aren’t the only laws protecting free trade and commerce, the federal government also has antitrust laws. Two federal statutes -- the Sherman Act and the Clayton Act -- assist states in prosecuting antitrust claims by prohibiting unfair restraints, like price fixing and monopolies. For more extensive information, you can visit FindLaw's Business Regulations section.
Antitrust Laws: Related Resources
As with many corporate statutes, antitrust laws can be as complicated as the conspiracies they are designed to prevent. You can contact a Kentucky antitrust attorney in your area if you would like legal advice regarding an antitrust matter, or if you are interested in understanding the rules and regulations regarding your business. You can also visit FindLaw’s sections on Consumer Protection and Small Business Law for additional articles and information on this topic.
