QUICK ANTITRUST GUIDELINES

The Audio Publishers Association (“APA”) is committed to full compliance with the antitrust  laws. Failure to comply with the antitrust laws can have severe consequences, including  significant fines for the APA and its member companies and jail time for individual  participants. The antitrust laws prohibit competitors from reaching an agreement on price  and other competitively-impactful terms. But because an unlawful agreement can be  inferred from communications, it is also impermissible for competitors to even discuss  (formally or informally) such terms.  

The APA has thus adopted the following guidelines for all APA-sponsored activities:

• DON’T AGREE with competitors on minimum or target prices or any element of price

• DON’T ASK for or accept price lists from competitors 

• DON’T ATTEND meetings with competitors involving pricing discussions

• DON’T DISCUSS with competitors the merits of reducing output or restricting supply

• DON’T AGREE with competitors to withhold a bid or on the amount of a bid 

• DON’T AGREE to restrict the territory or product markets in which you or a competitor  sells. 

• DON’T DISCUSS or disclose competitively sensitive information such as prices, specific  customers, terms of sale or purchase, discounts, credit or freight terms, return policies,  advertising or promotional assistance policies 

• DON’T ENGAGE in informal or social conversation about the competitively sensitive  issues mentioned above 

• DO stop such discussions if they occur; if others continue the discussion, leave, clearly  state your reason for doing so, and report the incident to APA’s legal counsel or  professional staff 

• DO participate in APA activities; let your voice be heard in program planning and in  policy formulation; contribute your knowledge and experience to the interchange and  collection of information that are the legitimate and valuable functions of a strong trade  association 

For a more thorough discussion of the antitrust laws and the APA’s antitrust policy, we refer  you to the APA Antitrust Compliance Policy. If you are aware of any antitrust violations in  connection with APA activities, please immediately contact: Michele Cobb, Executive  Director – Audio Publishers Association mcobb@audiopub.org 401-354-9100

Approved APA Board of Directors 5-3-16