HD20 - Antitrust and Monopolies

  • Published: 1974
  • Author: Virginia Advisory Legislative Council
  • Enabling Authority: House Joint Resolution 53 (Regular Session, 1972)

Executive Summary:

We in this country depend upon a free market system to make the economic decisions that every society requires. The virtue of our economic scheme is that in the main it relies for its operation upon the individual business decisions of our citizens, and government intervention is thus minimized. In such a system government's role is principally to ensure that the marketplace is permitted to function, free from restraint or distortion. To guide government in this crucial task and to preserve and enhance the disciplines of competitive free enterprise, the antitrust laws have been enacted at both the federal and state levels.

Virginia has on its books legislation that purports to apply in this area (9 Va. Code 59.1-22---59.1-41)(1973 Repl. Vol.) In addition, the Virginia Fair Trade Act (9 Va. Code 59.1-1---59.1-9) (1973 Repl. Vol.) relates to antitrust through its inhibition of price competition. The General Assembly was concerned that the passage of time and the evolution of the methods of doing business rendered these laws inadequate and might necessitate a fresh approach to the problem of safeguarding competition. Accordingly the General Assembly, in its 1972 Session, adopted House Joint Resolution No. 53.