4.0 hours Property Management Course Syllabus
4.0 Elective Hours.
Congress passed the first antitrust law, the Sherman Act, in 1890 as a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade. In 1914, Congress passed two additional antitrust laws: The Federal Trade Commission Act, which created the FTC, and the Clayton Act. With some revisions, these are the three-core federal antitrust laws still in effect today.
The Sherman Act is the main antitrust law. It prohibits conspiracy or other kinds of agreements that restrict trade. A conspiracy takes place when two or more businesses participate in a common scheme that places an unfair constraint on trade. Property managers must avoid three activities prohibited under antitrust laws: market allocation, price fixing, and tie-in arrangements.
Market allocation involves competitors distributing business between each other. Specific illegal activities include agreeing not to sell in specific areas; products or services in particular areas, and to specific customers in specific areas.
Market allocation is not illegal, but market allocation between competitors is illegal. For example, a property manager can sell in an area and distribute territory among employees just not with competing firms.
For over 100 years, the antitrust laws have had the same basic objective: to protect the process of competition for the benefit of consumers, making sure there are strong incentives for businesses to operate efficiently, keep prices down, and keep quality up. This course covers the anti-trust laws that are applicable to property management. The goal of this course is to keep you in compliance.