Competition
Competition laws, known as “antitrust” laws in the United States, help foster and preserve fair and honest competition in the marketplace. We comply with the letter and spirit of competition laws wherever we do business. The laws are complex and vary by country. You are encouraged to ask the Law Department for guidance.
These laws are intended to ensure fair, honest and vigorous competition and to protect consumers. Generally, these laws prohibit conspiracies between competitors, improper attempts to monopolize markets and to fix or control prices, wages, and other unfair business practices. Any violation of these laws could have serious and far-reaching consequences for both our Company and the individuals involved.
If you are routinely involved in the negotiation, pricing, review, approval or execution of agreements for the purchase of raw materials, ingredients or supplies or sale of products, you are responsible for understanding these laws beyond the content in our Code, and you must understand and comply with applicable laws and company policy for any country where you are conducting business.
If you are aware of or suspect any violation of antitrust laws or company policy, you must immediately report it to the Law Department or a member of management.
- Base your purchasing or sales decisions on quality, value and customer service.
- Avoid unfair or deceptive trade practices.
- Communicate our purchasing or sales programs clearly.
- Ensure the claims you make about competitors’ products and ours are verifiable and fact-based
- Always use legitimate means of obtaining competitive information from appropriate sources and identify the source when sharing competitive information within the Company.
- Respect business partners’ and competitors’ confidential information and intellectual property rights
- Contact the Law Department with questions
- Discuss or agree to set prices or other terms of sale (for example, credit terms, trade programs, etc.).
- Discuss or agree to set production levels or compensation.
- Discuss or agree to coordinate bids, allocate customers, sales territories or product lines.
- Reach any agreements or understandings with competitors without contacting the Law Department .
- Discuss deals with competitors except for the transaction at hand.
