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LSDefine

Simple English definitions for legal terms

cartel

Read a random definition: d.b.a.

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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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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