UNICON Initiates an Antitrust Policy
Antitrust/Competition law describes a variety of laws aimed at preserving fair, honest, and vigorous competition in the marketplace. It is based upon the theory that such competition ultimately leads to lower prices, increased supply, and continued improvements in goods and services, thereby ultimately benefiting the customer. Therefore, antitrust/competition laws, for example, prohibit agreements between competitors to fix prices and also limit monopolies.
UNICON believes that vigorous competition is essential for driving innovation, improvements, and efficiencies in all industries, including the executive education industry, and believes the services it provides to Members foster that competition. Because of this position, UNICON hereby adopts this Antitrust/Competition policy.
The UNICON Board recognizes that it serves members around the globe and yet there is no universal antitrust/completion law but only national and regional laws may apply. As UNICON is incorporated in the United States of America, it is bound to comply with United States antitrust laws. This Antitrust Policy is therefore drafted to ensure compliance with United States antitrust law.
Members should be aware that the European Union, and many foreign countries may have antitrust/competition laws which may differ considerably from United States antitrust law. Members should therefore not rely solely on this Antitrust Policy to guide their actions where different antitrust laws might apply. At the same time, it is the policy of UNICON to comply with all antitrust laws, and to ensure that its services provided to Members are not used in furtherance of a violation of antitrust law, and therefore the Antitrust/Competition policies will be applied.
The policy contains general policies, agreements to restrict competition, along with specific practices for UNICON conferences, communications, benchmarking research and antitrust procedures. We strongly recommend that you familiarize yourself with this important policy.
Please pay special attention to the sections that identify “Required Conduct by Members” and “Restricted Conduct by Members.” UNICON Committees will need to study the implications for their activities and develop appropriate next steps. Violations are often pursued aggressively by federal authorities and may lead to fines of up to $100 million for a corporation and prison sentences for individuals. Other violations of antitrust law may lead to civil enforcement by government authorities which may result in serious fines. Consumers or other competitors harmed by antitrust violations are often able to bring civil lawsuits which may result in treble damages against offending companies.
We believe this UNICON policy will align our organization with legal requirements and protect our members and our consortium. By doing so, we hope to continue our collective efforts to ensure the growth and prosperity of university-based executive education.
UNICON Board of Directors – Executive Committee