{"id":376199,"date":"2016-03-31T21:36:37","date_gmt":"2016-04-01T02:36:37","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/south-carolina-law\/south-carolina-antitrust-laws.html"},"modified":"2016-06-20T19:48:40","modified_gmt":"2016-06-21T00:48:40","slug":"south-carolina-antitrust-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/south-carolina-law\/south-carolina-antitrust-laws.html","title":{"rendered":"South Carolina Antitrust Laws"},"content":{"rendered":"\n
\n \n
\n

South Carolina Antitrust Laws<\/h1>\n
\n
\n

Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last updated\n

\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
\n

This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
\n

The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

Antitrust laws prohibit businesses from artificially inflating or fixing prices. This is intended to protect consumers<\/a> from the harmful effects of monopolies and lack of business competition. The three major federal antitrust laws<\/a> are the Sherman Antitrust Act, the Clayton Act, and the Federal Trade Commission Act. These laws protect consumers from businesses reducing or eliminating competition, fixing prices to ensure large profits, boycotting within an industry to prevent new competitors, bid rigging for contracts, and creating monopolies by excluded others.<\/p>\n

South Carolina also has antitrust laws to protect citizens from persons or companies who act with others to reduce competition or create monopolies artificially to make more money for themselves.<\/p>\n

The table below details the South Carolina antitrust laws<\/a>.<\/p>\n\n
Code Section<\/b><\/td>\nSouth Carolina Code Title 39: Trade & Commerce, Chapter 3: Trust, Monopolies, and Restraints of Trade<\/a><\/td>\n<\/tr>
What is Prohibited?<\/b><\/td>\nSouth Carolina law prohibits agreements, contracts, or arrangements between two or more individuals or corporations that try to do any of the following:
\n
Penalties<\/b><\/td>\nViolators of these anti-business competition laws can be penalized in many ways, from fines to ceasing permission to operate as business, to civil lawsuits.
\n
\nFines<\/u>
\nAny person, officer, company, or firm that violates the antitrust laws will be find $200 to $5,000 for each offense. Each day a person continues with an unlawful and unfair business practice is a separate offense. The money collected goes to the State Treasury to become part of the general fund.
\n
\nCharter & Franchise Forfeiture<\/u>
\nWhen a complaint about anti-competitive or price fixing business behavior is made, the Attorney General can make a South Carolina company forfeit its charter. If substantiated by the court, the corporation<\/a> will have to dissolve and cease to operate.
\n
\nForeign (out-of-state) corporations found to have violated these antitrust laws are disqualified and no longer have the right to do business in South Carolina.
\n
\nIf a company has franchises and violates these antitrust laws, the corporation and its franchises will be declared forfeited and void<\/a>.
\n
\nCriminal Punishment<\/u>
\nPersons or companies who violate this law and commit any other crimes can be punished for the other crimes in addition to these penalties.<\/td>\n<\/tr>
Enforcement Agency<\/b><\/td>\nThe South Carolina Attorney General<\/a> has the power to enforce these laws by investigating any complaints of these types of unfair or unlawful business practices. Witnesses may be called. Also, the Attorney General will prosecute any matters on appeal or to the Supreme Court of South Carolina, even if the circuit court solicitor brought the original action.<\/td>\n<\/tr>
Private Civil Lawsuit<\/b><\/td>\nA person who\u2019s been harmed by any trust arrangement or agreement that restrained commerce can sue the wrongdoer in court. The person sues the trust or combination company or companies for the amount he paid for any goods controlled by the trust.
\n
\nIndividuals who\u2019ve been harmed by these types of bad business behaviors can possibly also sue under the South Carolina Unfair Trade Practices Act<\/a>. This law prohibits unfair and deceptive practices for anyone doing commerce in South Carolina. A lawsuit under this law must be brought within three years of the violation of that act.<\/td>\n<\/tr>
Attorney Fees<\/b><\/td>\nIf a plaintiff brings and wins a case under the Unfair Trade Practices Act<\/a>, he or she can have his or her reasonable attorney\u2019s fees paid for by the losing defendant.<\/td>\n<\/tr><\/tbody><\/table>\n

Whether you\u2019ve been harmed by a monopoly or other unfair business competition act or have been accused of committing an antitrust related crime, you should consult with an experienced South Carolina Antitrust and Trade Regulation Attorney<\/a> to determine your legal options.<\/p>\n

Note:<\/i><\/b> As state laws change regularly, it\u2019s important to verify any laws you\u2019re reading about by conducting your own legal research or contacting a local attorney.<\/i><\/p>\n

Research the Law<\/h2>\n