Michael Lindsay and Erik Ruda discuss some of the fundamental issues that joint ventures can raise, particularly where the joint venture involves competing firms. For example, how is a legitimate joint venture distinguished from a sham? What kinds of restraints are likely to create potential antitrust risks, and what are the guiding principles for evaluating these risks? When is a joint venture considered to be making its own decisions (protected under the single-actor rule of Copperweld1), and when are the decisions evaluated under the American Needle2 rule? To read this article, click here.