Preface

• Pages: ix-ix

PREFACE

ix

Global competition and technological innovation over the last twenty

years have dramatically changed how business is done. Every month

seems to bring a new announcement that two or more businesses have

formed a joint venture in an effort to become more competitive, whether

by expanding into new markets, developing new products, or lowering

costs.

Potential joint venturers need to carefully consider antitrust

ramifications when structuring their venture. Early planning will assist in

ensuring that the venture is structured to achieve, and emphasize,

procompetitive efficiencies and legitimate business objectives while

reducing the possibility of an antitrust pitfall. However, that planning

process undoubtedly will involve a number of trade-offs as the parties

balance the need to achieve their objectives, as well as the flexibility to

cope with future competitive circumstances, with the risk and uncertainty

inherent in the rule of reason inquiry that will be applied by the antitrust

enforcement agencies and the courts when reviewing most joint ventures.

This handbook is designed to assist antitrust practitioners in providing

their clients with a thorough analysis of the antitrust risks posed by

entering into a joint venture with actual or potential competitors.

This book is the result of the hard work of numerous talented

individuals. Thanks go to the principal contributors to the book, George

A. Nicoud III, Rebecca Justice Lazarus, Jarod M. Bona, Tiffany Joseph-

Daniels, and Sarah R. Vollbrecht, for their outstanding efforts. Thanks

also go to Terri L. Flowers for her administrative support, and to Valarie

Williams and Anthony W. Swisher of the Books & Treatises Committee

for their assistance during the editing process. Special thanks go to Jon

G. Shepherd for his excellent leadership as the Editor and principal

driving force behind Joint Ventures. His dedication and hard work are

responsible for the quality of this book.

Lynda Marshall

Chair, Sherman Act Section 1

Committee

Section of Antitrust Law

American Bar Association

March 2006