On Monopolies
Category: Free Trade | Strength: Mild
The World Assembly,
Understanding the want by many people to end government intervention in business,
Knowing that monopolies in the world of business can and do exist, and
Understanding that these monopolies hurt many businesses and our economies,
HEREBY
§1: Defines, for the purposes of this law:
1.1: A "Monopoly" as a business that attains a large enough amount of the market they are in to give them control in the
entire business.
1.2: An "Antitrust breakup" as the breaking up of a corporation into smaller subset companies to remove the monopoly that
the corporation had over the market they were in.
1.3: "Antitrust hearings" as trials to decide the fate of the company.
§2: All corporations with 60% of the market share in the market they are in, or with more than the decided number of companies merged or owned by the company that constitutes a monopoly in the nation they have their headquarters in, shall be broken up into smaller subsets under an antitrust breakup carried out by the government of the nation that the company has it's headquarters in, and will sell some of it's assets to other companies.
§3: If a corporation is found to be a monopoly under §2, some representatives of the company will represent the company in antitrust hearings to decide whether or not the company shall be declared a monopoly and be split, along with any lawyers from the company.
§4: All companies are mandated to report their earnings and market share every quarter to the government of the nation their headquarters is in. They are also mandated to report any acquisitions they have made in the last financial year.
§5: If a company already has subsets due to international expansion, i.e: of [insert nation name here], they will be treated as separate companies and will be tried as underlined in §3.
§6: Encourages member nations to enforce the policies outlined here.
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