Conscious Parallelism Legal Meaning and Definition

Here is a simplified definition of the legal term Conscious Parallelism.

Conscious Parallelism (noun):

Conscious Parallelism is a term related to business practices where companies in the same industry or market subtly follow one another in setting prices or strategies. This action does not involve any specific agreement or conversation among these companies. Instead, when one company makes a price adjustment, others in the same market also adjust their prices in a similar way, showing an unspoken mutual understanding. Please note that this behavior could be considered unlawful as it could breach anti-trust laws, which aim to promote fair market competition.