This country’s entrepreneurial spirit was born out of the concept that competition offers consumers options, makes products and services better and generally keeps things interesting. There is enough profit to go around and the country thrives when more people are making money. When a buying group restricts these concepts, it could find itself in trouble with both Tennessee and federal authorities.
Antitrust laws help ensure that no one buying group has enough power to force consumers to purchase goods or services at certain prices. They also help make sure that small companies retain the opportunity to enter or remain viable in the market. It can be easy for a buying group to choke out smaller businesses if it fails to keep these laws in mind.
It would more than likely greatly benefit your buying group to understand how to avoid such allegations right from the start. An attorney with experience in this area could review your contracts to make sure that they do not contain problematic or controversial provisions that could attract the attention of government officials. Pricing information and purchasing options for members of the group could reveal any potential problems.
A buying group can be a powerful tool to help the members of your group thrive in Tennessee’s economy, and perhaps even across the country. However, without a full understanding of the antitrust laws, it could run into problems that would keep it from succeeding. Ensuring compliance with these laws can help avoid costly and time-consuming investigations and litigation that could also damage your group’s reputation, which could ultimately put it out of business.