The practice of conspiring to establish fixed fees or prices for services rendered or goods sold. In recent years, the setting of attorney fees by local bar associations and commission percentages and management fees by local realty associations has been successfully attacked as price fixing and thus a violation of the Sherman Antitrust Act.
The practice of fixing the price for a particular product or service by the government or a business, instead of letting it to react freely to market forces. The government fixes prices in order to eliminate price fluctuations for certain commodities. If private business uses this practice in order to obtain artificially high prices it is considered illegal.
Price fixing is an agreement between business competitors selling the same product or service regarding its pricing. In general, it is an agreement intended to ultimately push the price of a product as high as possible, leading to profits for all the sellers. Price-fixing can also involve any agreement to fix, peg, discount or stabilize prices.