Page 17 - Akerman | 2016 Guide to Doing Business in Florida

1.2.4 The Federal Trade Commission Act

The FTC Act declares unlawful “unfair methods of competition” and “unfair or deceptive acts or
practices.”

1.2.5 The Hart-Scott-Rodino Antitrust Improvements Act of 1976
The Hart-Scott-Rodino Act requires that, under certain circumstances, a company proposing to
merge with or acquire another company must give prior notice of the proposed acquisition to
the Federal Trade Commission and the Justice Department. Failure to report may result in very
substantial fines.

1.2.6 Enforcement
Private individuals and corporations may bring lawsuits under the Sherman Act, the Clayton Act
and the Robinson-Patman Act. Remedies may include injunctive relief, treble damages and
attorney fees. The government may enforce the Sherman Act through criminal prosecutions
and civil suits. In addition, the government may enforce the Clayton Act and the Robinson-
Patman Act through the FTC or the Justice Department. Only the government can enforce the
Federal Trade Commission Act and the Hart-Scott-Rodino Act.

1.3 Florida Antitrust Laws

Florida’s antitrust statutes are located in Chapter 542, Florida Statutes, “Combinations
Restricting Trade or Commerce,” and are expressly intended “to complement the body of
federal law prohibiting restraints of trade or commerce[.]” Accordingly, federal applications and
interpretations of U.S. antitrust laws are directly applicable to Florida antitrust law, and such
litigation in Florida often has Florida statutory claims proceeding parallel to federal statutory
claims under the same analysis; however, prosecution of an antitrust violation by the Florida
Attorney General is prohibited while there is a federal prosecution pending. Florida’s statutes
provide for civil penalties (of up to $100,000 against individuals and $1,000,000 against
companies) and injunctive relief in actions brought by the Florida Attorney General. Private
individuals are authorized to seek injunctive relief and treble damages, plus attorneys’ fees and
costs. Suit on an antitrust violation must be brought within four years of accrual of the claim,
except that the statute of limitations on a private suit is tolled until one year after the conclusion
of a proceeding brought by the Florida Attorney General.

Chapter 542 expressly deems written contracts barring an individual from competing after
selling a business not to be illegal restraints of trade, within certain parameters, and authorizes
injunctive relief as well as damages. Similarly, written contracts through which an employee
agrees not to compete with an employer during employment or post-employment are
approved, subject to reasonableness of time, area, and line of business covered.

For further discussion on restraints of competitive activities in an employment-agreement
context, see also Section 6.3.5 of this Guide [Florida Non-Compete Statute].

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