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LSDefine

Simple English definitions for legal terms

cartel

Read a random definition: lex domicilii

A quick definition of cartel:

A cartel is a group of companies that work together to cheat customers by fixing prices, rigging bids, or dividing up markets. This is illegal and can result in criminal penalties. The government has laws to stop cartels, like the Sherman Act and Clayton Acts. Companies that break these laws can be fined millions of dollars.

A more thorough explanation:

A cartel is a group of independent companies or organizations that work together to control prices, rig bids, divide markets, or engage in other illegal activities. Cartel behavior is mainly subject to criminal penalties under US antitrust laws, although some actions may result in civil penalties.

The Sherman Act and Clayton Acts are the two main laws that regulate cartels. The Sherman Act sets a maximum corporate fine of $100 million, but fines exceeding this amount have been imposed in the past decade. The Department of Justice may seek higher fines under 18 U.S.C. § 3571(d).

For example, F. Hoffman-La Roche was fined $500 million for its involvement in an international vitamin cartel that engaged in price-rigging. Another example is the London Silver Fixing case, where a group of banks was found to have manipulated the price of silver.

These examples illustrate how cartels can harm consumers by artificially inflating prices and limiting competition. The fines imposed on cartel members serve as a deterrent to prevent future illegal behavior.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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