Price fixing

{
  "id": "MLC-T-LAW-003887",
  "term": "Price fixing",
  "field": "Law",
  "definitions": [
    "An agreement between competitors to buy or sell products or services at a fixed price, or to set minimum or maximum prices. This practice eliminates competition and is a per se violation of antitrust laws, meaning it is illegal regardless of its actual effect on the market. Penalties can include substantial fines and imprisonment.",
    "An agreement among competitors to raise, lower, or stabilize prices or competitive terms. This practice eliminates competition and is considered a per se violation of antitrust laws, meaning it is illegal regardless of its actual effect on the market. Such agreements can involve setting minimum prices, maximum prices, or specific price ranges."
  ],
  "url": "https://mlchart.com/terminology/law/price-fixing/"
}