Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

collusion

Read a random definition: DECA

A quick definition of collusion:

Collusion is when two or more people secretly agree to cheat or do something illegal to harm someone else. In antitrust law, collusion happens when competitors at the same level agree to control prices or limit supply. This can happen by sharing information or dividing the market. Sometimes, companies in a concentrated market can create a monopoly by setting prices at a higher level than they should be. This is called tacit collusion and is not always illegal.

A more thorough explanation:

Collusion is a secret agreement between two or more parties to cheat or deceive a third-party or to achieve an illegal purpose.

In antitrust law, collusion refers to the illegal agreement between competitors to control or fix prices, limit supply, share insider information, or divide the market. There are two types of collusion:

  • Horizontal collusion: This occurs when competitors at the same market level agree to fix or control the prices they will charge for their respective goods or services. For example, two companies may agree to charge the same price for their products, even though they would normally compete on price.
  • Tacit collusion: This is the process by which firms in a concentrated market create monopoly power by setting their prices at a profit-maximizing, supra-competitive level after recognizing their shared economic interests and interdependence with respect to price and output decisions. This type of collusion is not in itself unlawful, but it can lead to antitrust violations.

For example, two gas stations in the same town might agree to charge the same price for gasoline, even though they would normally compete on price. This is an example of horizontal collusion. Alternatively, two airlines might agree to limit the number of flights they offer on a particular route, which would allow them to charge higher prices. This is an example of tacit collusion.

collision insurance coverage | collusive action

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.