Demanding ethical and socially responsible behaviors
United States has enacted laws that are intended for business partners, Consumers and the general public from unfair competition. These laws are well enacted in the constitution where the laws on unfair competition are found. The constitution is very clear and conscious about practices that that may cause injury in the economy and as a result have categorized such practices in the law of tort. The federal government on that note there does everything to ensure that the laws are implemented to the letter and ensure they are effective.
The government intention in formulating anti-competition laws and implementing them to ensure that they are effective, is to ensure that free enterprise are well as competition have been promoted. The rationale behind this noble exercise is to ensure that businesses and industries will promote efficiency maximally and in addition to that consumers will enjoy product at low prices (Mateus, & Moreira, 2010).
The government has established various mechanisms which are intended to see that the laws are effective. To start with the government has categorized torts that can cause economic injury under two categories. On that note, the government seeks to define what the term unfair competition is where torts that are likely to confuse the consumer where the source of the products that they are supplied with originates from have been covered. The other category comprises of all other unethical trade practices that trade men and women engage in. This way the public have been made aware of the various uncompetitive practices and the torts that cover them (Peritz, 1996).
The effectiveness of federal trade commission have been realized where trade practices such as switch tactics and baits have been prevented as they could not only harm the consumers, but would also have detrimental effects on competing businesses. The authorities have come up with a strategy that ensures that the state common laws and the federal laws do not conflict to ensure that all these laws are effective. In case the laws conflict to some point, the authorities have postulated and allowed that the state laws be pre-emptied (Trybus, 2007).
The private sectors have also been given the responsibility to ensure that the anti-trust laws as commonly referred to in the United States are effective. The private sector have a duty to ensure that price fixing does not take place since it is not only a technical violation, but have serious detrimental impacts on the economy and they injured everybody. the govern is particularly very serious on such crimes and has given the private sector that mandate to ensure the such unethical practices have no place in the united states (Trybus, 2007).
Anti-competitive offences classified as criminal are said to be felonious and to this extent, they have very severe penalties for violator. For individual guilty for such offences, they may be required to pay heavy fines, and sometime incur heavy legal expenses. In addition to that, such individuals may lose their civil rights and at its worst, they may receive a life imprisonment sentence. For corporate, the situation is usually even worse as they receive hefty fines which are qualified with regard to their pecuniary gain or the victims pecuniary loss (Trybus, 2007).
The corporate that engages in the anti-competitive business practices risks incurring hefty expense with regard to litigation. In addition to that they risk their business day to day activities which may be disrupted due to the legal consequences. They further risk denting their public image where their reputation will be negatively affected and end up losing their investors as well as their customers. The government ensures that such stern measures are effected to ensure that unethical business practices are put on check (Trybus, 2007).Such stern measures make sure that the laws are effective since people and corporate will fear incurring such huge losses as well as penalties.
The set laws and regulation are effective in almost all the area that defines the economy of the United States. For instance, in all area of trade, joint actions are prohibited and offenders of the laws are punished by the law. The courts have the last result on issue with regard to questionable joint activities for instance exclusive dealings. Price discrimination is prohibited by the federal laws as well as the monopolization (Peritz, 1996).
In conclusion, anti-competition laws are applicable and every individual have a duty to comply. These laws are greatly effective as they have control unethical business practices in the United States. If any individual needs to know anything with regard to the laws, they can seek guidance from compliance officers.
Trybus, M., & White, N. D. (2007). European security law. Oxford: Oxford University Press.
Mateus, A. M., & Moreira, T. C. (2010). Competition law and economics: Advances in competition policy enforcement in the EU and North America. Cheltenham: Edward Elgar.
Peritz, R. J. R. (1996). Competition policy in America, 1888-1992: History, rhetoric, law. New York: Oxford University Press.