price fixing

price fixing
Conspiring with other individuals or companies in the same business to set prices instead of letting them be set by market forces, usually to restrict competition.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

price fixing
A criminal violation of federal antitrust statutes, in which several competing businesses agree to set prices for their products to prevent real competition and keep the public from benefiting from price competition. (See also: antitrust laws)
Category: Business, LLCs & Corporations
Category: Personal Finance & Retirement

Nolo’s Plain-English Law Dictionary. . 2009.

price fixing
This is strictly prohibited under competition law and includes any formal or informal understanding about price levels or increases between competitors. Unlawful price fixing includes setting minimum or target prices, co-ordination of the timing of price increases and agreeing many aspects of trading conditions such as discounts, margins, rebates, credit terms, advance payments, minimum prices and list prices.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

price fixing
n. Artificially setting prices at a certain level, in exception to the workings of a free market, or conspiring to do same. The test is whether such actions or agreements restrain free traders' ability to sell according to those traders' judgment.
@ horizontal price fixing
Price fixing by competitors on the same level, such as all supermarkets selling cereal for the same price.
=>> price fixing.
@ vertical price fixing
Price fixing between or among parties at different levels of distribution, such as manufacturers and distributors trying to control retail price.
=>> price fixing.

Webster's New World Law Dictionary. . 2000.

price fixing
   a criminal violation of federal antitrust statutes in which several competing businesses reach a secret agreement (conspiracy) to set prices for their products to prevent real competition and keep the public from benefitting from price competition. Price fixing also includes secret setting of favorable prices between suppliers and favored manufacturers or distributors to beat the competition.

Law dictionary. . 2013.

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Look at other dictionaries:

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  • price–fixing — price–fix·ing / prīs ˌfik siŋ/ n: the usu. illegal setting of prices artificially (as by producers) contrary to free market operations see also horizontal price fixing, vertical price fixing Merriam Webster’s Dictionary of Law. Merriam Webster.… …   Law dictionary

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  • price-fixing — The organized setting of what the public will be charged for certain products or services agreed to by competitors in the marketplace in violation of the SHERMAN ANTI TRUST ACT (15 U.S.C.A. § 1 et seq.). Dictionary from West s Encyclopedia of… …   Law dictionary

  • price fixing — price .fixing n [U] 1.) a system in which the government decides the prices of things = ↑price control 2.) an agreement between producers and sellers of a product to set its price at a high level …   Dictionary of contemporary English

  • price fixing — n. the setting or maintenance of prices at a certain level, esp. by competitors in collusion …   English World dictionary

  • Price Fixing — Establishing the price of a product or service, rather than allowing it to be determined naturally through free market forces. Antitrust legislation makes it illegal for businesses to decide to fix their prices under specific circumstances.… …   Investment dictionary

  • price fixing — the establishing of prices at a determined level, either by a government or by mutual consent among producers or sellers of a commodity. Also, price fixing. [1945 50] * * * price fixing, 1. the control of prices by a governmental agency. 2. an… …   Useful english dictionary

  • price-fixing — noun control (by agreement among producers or by government) of the price of a commodity in interstate commerce • Topics: ↑government, ↑governing, ↑governance, ↑government activity, ↑administration • Hypernyms: ↑control * * * ˈprice f …   Useful english dictionary

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