Iowa. Statutory Language

Iowa Statute 18-33

IOWA STATUTE

IOWA COMPETITION LAW

IOWA CODE §§ 553.1 to 553.18

§ 553.1 Short title

This chapter shall be known and may be cited as the “Iowa Competition Law.”

§ 553.2 Construction

This chapter shall be construed to complement and be harmonized with the

applied laws of the United States which have the same or similar purpose as this

chapter. This construction shall not be made in such a way as to constitute a

delegation of state authority to the federal government, but shall be made to achieve

uniform application of the state and federal laws prohibiting restraints of economic

activity and monopolistic practices.

§ 553.3. Definitions

As used in this chapter unless the context otherwise requires:

1. “Commodity” means tangible or intangible property, real, personal, or

mixed.

2. “Enterprise” means a business, commercial or professional entity,

including a corporation, partnership, limited partnership, professional corporation,

proprietorship, incorporated or unincorporated association, or other form of

organization.

3. “Government agency” means the state, its political subdivisions, and any

public agency supported in whole or in part by taxation.

4. “Person” means a natural person, estate, trust, enterprise or government

agency.

5. “Price” includes the terms and conditions of sale, rental, rate, fee, or any

other form of payment for a commodity or service.

6. “Relevant market” means the geographical area of actual or potential

competition in a line of commerce, all or any part of which is within this state.

7. “Service” means any activity which is performed in whole or part for

financial gain.

8. “Trade or commerce” means any economic activity involving or relating

to any commodity, service, or business activity.

§ 553.4. Restraint prohibited

A contract, combination, or conspiracy between two or more persons shall not

restrain or monopolize trade or commerce in a relevant market.