14:47
I go to Purdue so it’s close that’s the reason I applied
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
market-participant doctrine
Read a random definition: acceptance for honor
A quick definition of market-participant doctrine:
The market-participant doctrine is a rule that says a state can buy or sell things in the market without discriminating against businesses from other states. This means that if a state is participating in the market instead of regulating it, they can't be accused of breaking the Commerce Clause. The Commerce Clause is a part of the U.S. Constitution that gives Congress the power to regulate trade between states. The market-participant doctrine is important because it allows states to operate their own businesses and support private businesses without violating the Constitution.A more thorough explanation:
The market-participant doctrine is a principle that states that a state does not discriminate against interstate commerce by participating in the market as a buyer or seller, operating a proprietary enterprise, or subsidizing private business. This means that if a state is participating in the market instead of regulating it, the Dormant Commerce Clause analysis does not apply, and the state activity will generally stand.
For example, if a state government decides to purchase goods from a private company, it is acting as a market participant. In this case, the state is not regulating the market, but rather participating in it as a buyer. Therefore, the market-participant doctrine would apply, and the state's activity would generally be allowed.
Another example is if a state government operates a business that competes with private companies. As long as the state is participating in the market as a seller, the market-participant doctrine would apply, and the state's activity would generally be allowed.