An analysis of the responsibility of the federal trade commission act in the united states
Federal trade practices act
The FTC also has authority over unfair methods of competition between businesses. In some cases, the Commission may also seek to preserve the possibility of ultimate monetary equitable relief, by obtaining temporary restraining orders and preliminary injunctions that freeze assets and impose temporary receivers. Since then, some of the Baby Bells have merged again — moves allowed as technology e. Monopolies, by their nature, are anti-competitive and are therefore injurious to consumer and investor interests and to the economy at large. For example, in May , the FTC approved a final order in which the American Guild of Organists agreed to eliminate rules that restricted its 15, member organists and choral members from competing for opportunities to perform. The Bureau of Economic Analysis helps evaluate the economic impact of FTC actions by analyzing antitrust and consumer protection investigations and rulemaking. Each law addresses commercial excesses that were common early in the 20th Century and are recurrent trouble spots.
After expiration of a thirty-day grace period, a defaulting party is liable for a penalty for each day of noncompliance. The Commission may petition a federal district court to enforce the subpoena or CID in the event of noncompliance, although permissible venue is narrower in a CID enforcement action than in a subpoena enforcement case.
These written advocacies provide guidance and recommendations about how to incorporate competition principles into laws, regulations or policies.
Com'n Microeconomics Conference, 3 Novemberavailable at www. The FTC also has authority over unfair methods of competition between businesses.
Federal trade commission act definition
The FTC also hosted 'international fellows' from nine foreign competition agencies. To that end, the FTC increasingly works in partnership with its sister agencies around the world to promote sound competition practices and principles. Endnotes 1. The Commission enforces both consumer protection and antitrust laws. For example, it required the divestiture of two types of generic pharmaceutical products in order to resolve charges that Baxter International's proposed acquisition of Claris LifeSciences Limited's injectable drug business would be anticompetitive. Each commission member serves a seven-year term and must be approved by the Senate. Mylan Labs. In a complaint filed in a federal district court, the FTC alleges that Qualcomm has violated the antitrust laws by using its dominant position as a supplier of certain baseband processors to impose onerous and anticompetitive supply and licensing terms on cell phone manufacturers and to weaken competitors. Under the Patient Right to Know Drug Prices Act of , certain agreements involving biosimilar biological drugs must be filed in the same way. Even though the FTC does not resolve individual complaints, it does use the aggregated information to determine where federal action might be taken. Court of Appeals and finally to the Supreme Court. Section 5 of the Federal Trade Commission Act prohibits "unfair or deceptive acts or practices in or affecting commerce.
If a party fails to comply with a 6 b order after receiving a notice of default from the Commission, the Commission may commence suit in federal court under Section 10 of the FTC Act, 15 U. In fiscal year 1 October — 30 September2 the agency challenged 23 mergers in a broad array of industries.
The respondent may file a petition for review with any United States court of appeals within whose jurisdiction the respondent resides or carries on business or where the challenged practice was used.
Nearly all of the rules that the Commission actually promulgated under Section 6 g were consumer protection rules.
based on 6 review