Markets Wired

Nine Consumer Tips to Make the Most of 2009

For Your Information

December 23, 2008

As 2008 draws to a close, the Federal Trade Commission has nine consumer tips that can yield big dividends next year. Recognizing a good deal, staying safe online, managing credit and debt, and reporting scams and deceptive offers are more important than ever in these uncertain economic times. The FTC’s tips this year include:

1. Get a free copy of your credit report. Visit www.annualcreditreport.com or call 877-322-8228 to request a free credit report, once every 12 months from each of the nationwide consumer credit reporting companies. AnnualCreditReport.com is the only site consumers can depend on for a truly free credit report with no strings attached. To learn more about credit, mortgages, debt collection, and other financial issues visit www.ftc.gov/credit.
2. Stay safe online. The Internet provides access to information, entertainment, financial offers – in short, a world of countless products and services. But unless security software is used and kept up-to-date, consumers can be left vulnerable to scammers, identity thieves, phishers, and more. Computer security is available – in plain language – at www.onguardonline.gov.
3. Deter identity theft. Information packages at www.ftc.gov/idtheft can help deter, detect, and defend against ID theft, and minimize the damage it can cause. Consumers who are concerned that they may be a victim of identity theft can visit www.ftc.gov/idtheft or call 877-ID-THEFT.
4. Foil a phone fraudster. Criminals use the phone to commit many different types of fraud, including sweepstakes and lottery frauds, loan fraud, buying club memberships, and credit card scams. Find out how to avoid them at www.ftc.gov/phonefraud.
5. Register a number. The National Do Not Call Registry gives consumers a choice about whether to receive telemarketing calls at home. Legitimate telemarketers should not call phone numbers that have been on the Registry for 31 days. If calls are received, consumers can file a complaint with the FTC. To register a home or mobile phone number for free, visit www.donotcall.gov or call 888-382-1222 from the number to be registered.
6. Teach a kid about commerce. Take a kid to www.ftc.gov/youarehere – a virtual mall with interactive activities that provide lessons about advertising, marketing, and the benefits of competition. At this free site, kids can design and print advertisements, uncover suspicious claims in an ad, and play games that reveal the secrets behind pricing.
7. Save your energy. Consumers can save energy and money – whether they are buying a new refrigerator or trying to reduce their home heating and cooling bills. Find out how to save money in virtually every room of the home at www.ftc.gov/energysavings.
8. Have some healthy skepticism. Consumers can learn how to spot health scams, such as fake cancer cures and bogus weight loss products, and do some research on buying generic drugs, Lasik eye surgery, and using dietary supplements. Consumers can learn about rights they may not even know they had – like the right to obtain a copy of prescriptions for eyeglasses or contact lenses at www.ftc.gov/health.
9. Report a rip-off. Your complaints can help detect patterns of wrong-doing, and lead to investigations and prosecutions. The FTC enters all complaints it receives into Consumer Sentinel, a secure online database that is used by thousands of civil and criminal law enforcement authorities worldwide. File your complaint at www.ftccomplaintassistant.gov

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,500 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s Web site provides free information on a variety of consumer topics.

(FYI nine tips)

Contact Information

MEDIA CONTACT:

Office of Public Affairs
202-326-2180

Nine Consumer Tips to Make the Most of 2009

For Your Information

December 23, 2008

As 2008 draws to a close, the Federal Trade Commission has nine consumer tips that can yield big dividends next year. Recognizing a good deal, staying safe online, managing credit and debt, and reporting scams and deceptive offers are more important than ever in these uncertain economic times. The FTC’s tips this year include:

1. Get a free copy of your credit report. Visit www.annualcreditreport.com or call 877-322-8228 to request a free credit report, once every 12 months from each of the nationwide consumer credit reporting companies. AnnualCreditReport.com is the only site consumers can depend on for a truly free credit report with no strings attached. To learn more about credit, mortgages, debt collection, and other financial issues visit www.ftc.gov/credit.
2. Stay safe online. The Internet provides access to information, entertainment, financial offers – in short, a world of countless products and services. But unless security software is used and kept up-to-date, consumers can be left vulnerable to scammers, identity thieves, phishers, and more. Computer security is available – in plain language – at www.onguardonline.gov.
3. Deter identity theft. Information packages at www.ftc.gov/idtheft can help deter, detect, and defend against ID theft, and minimize the damage it can cause. Consumers who are concerned that they may be a victim of identity theft can visit www.ftc.gov/idtheft or call 877-ID-THEFT.
4. Foil a phone fraudster. Criminals use the phone to commit many different types of fraud, including sweepstakes and lottery frauds, loan fraud, buying club memberships, and credit card scams. Find out how to avoid them at www.ftc.gov/phonefraud.
5. Register a number. The National Do Not Call Registry gives consumers a choice about whether to receive telemarketing calls at home. Legitimate telemarketers should not call phone numbers that have been on the Registry for 31 days. If calls are received, consumers can file a complaint with the FTC. To register a home or mobile phone number for free, visit www.donotcall.gov or call 888-382-1222 from the number to be registered.
6. Teach a kid about commerce. Take a kid to www.ftc.gov/youarehere – a virtual mall with interactive activities that provide lessons about advertising, marketing, and the benefits of competition. At this free site, kids can design and print advertisements, uncover suspicious claims in an ad, and play games that reveal the secrets behind pricing.
7. Save your energy. Consumers can save energy and money – whether they are buying a new refrigerator or trying to reduce their home heating and cooling bills. Find out how to save money in virtually every room of the home at www.ftc.gov/energysavings.
8. Have some healthy skepticism. Consumers can learn how to spot health scams, such as fake cancer cures and bogus weight loss products, and do some research on buying generic drugs, Lasik eye surgery, and using dietary supplements. Consumers can learn about rights they may not even know they had – like the right to obtain a copy of prescriptions for eyeglasses or contact lenses at www.ftc.gov/health.
9. Report a rip-off. Your complaints can help detect patterns of wrong-doing, and lead to investigations and prosecutions. The FTC enters all complaints it receives into Consumer Sentinel, a secure online database that is used by thousands of civil and criminal law enforcement authorities worldwide. File your complaint at www.ftccomplaintassistant.gov

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,500 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s Web site provides free information on a variety of consumer topics.

(FYI nine tips)

Contact Information

MEDIA CONTACT:

Office of Public Affairs
202-326-2180

Inverness Medical Innovations, Inc., has agreed to settle Federal Trade Commission charges that it acted illegally to maintain its monopoly on consumer pregnancy tests in the United States when it acquired certain assets of a smaller competitor, ACON Laboratories, Inc., and interfered with that company’s efforts to develop and supply new consumer pregnancy tests that would compete with Inverness’ products.

The consent order announced today requires Inverness to sell the consumer pregnancy test assets related to water-soluble dye technology that it acquired from ACON and to remove barriers to ACON’s supply of digital consumer pregnancy tests to Inverness’ competitor. The order also limits Inverness’ ability to interfere with future development and supply of digital consumer pregnancy tests.

“Through its actions Inverness removed two important competitive threats to its leading market position in consumer pregnancy tests,” said David P. Wales, Acting Director of the FTC’s Bureau of Competition. “The Commission’s action today clears the way for more vigorous competition in the future that will benefit consumers through lower prices and more innovation.”

With approximately a 70 percent market share, Inverness is the market leader for U.S. consumer pregnancy tests. Inverness sells several-brand name pregnancy tests, including Clearblue, Accu-Clear, and FactPlus. In 2006, Inverness acquired assets from ACON, including a consumer pregnancy test that ACON was developing based on water-soluble dye technology, and assets related to a digital consumer pregnancy test joint venture that ACON had entered into with another company, Church & Dwight Co., Inc. By buying these assets, Inverness could restrict the development of emerging products that would compete with Inverness’ consumer pregnancy tests.

According to the Commission’s complaint, Inverness acquired these assets from ACON to maintain its monopoly in the pregnancy test market, and acted illegally to stifle future competition from ACON’s joint venture with Church & Dwight in violation of Section 5 of the FTC Act.

The complaint charges that Inverness weakened future competition in two main respects. First, it charges that Inverness limited potential competition from digital consumer pregnancy test products by, among other things, 1) imposing a covenant not to compete on ACON, limiting the scope and duration of its joint venture with Church & Dwight; 2) requiring ACON to provide Inverness with all profits from the joint venture; and 3) acquiring rights to certain intellectual property developed by ACON and Church & Dwight during their joint venture. The FTC contends that through these actions, Inverness interfered with ACON’s ability and incentive to develop and manufacture digital consumer pregnancy tests. The consent order prevents Inverness from interfering with ACON and Church & Dwight’s joint venture, and will enable ACON and Church & Dwight to remain competitive after the joint venture ends.

Second, the complaint charges that Inverness engaged in unfair competition to maintain its monopoly when it bought, but did not use, ACON’s water-soluble dye consumer pregnancy test assets. At the time, ACON was one of the only firms developing consumer pregnancy tests using water-soluble dye technology. According to the FTC, the 2006 acquisition of these assets solidified Inverness’ monopoly, and kept that technology from being developed into products that would compete with Inverness’ consumer pregnancy tests. The consent requires Inverness to divest to Aemoh Products, LLC, assets related to ACON’s water-soluble dye product, including its water-soluble dye technology. Under the terms of the order, Inverness also will be prohibited from making infringement claims against certain lateral flow products that use its water-soluble dye technology.

The Commission vote to accept the complaint and consent order and place copies on the public record was 3-0, with Commissioner Pamela Jones Harbour recused. The FTC will publish an announcement regarding the agreement in the Federal Register shortly. The complaint, consent order, and an analysis to aid public comment can be found now on the Commission’s Web site at http://www.ftc.gov/os/caselist/0610123/index.shtm.

The agreement will be subject to public comment for 30 days, beginning today and continuing through January 20, 2009, after which the Commission will decide whether to make it final. Comments should be addressed to the FTC, Office of the Secretary, Room H-135, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. The FTC is requesting that any comment filed in paper form near the end of the public comment period be sent by courier or overnight
service, if possible, because U.S. postal mail in the Washington area and at the Commission is subject to delay due to heightened security precautions.

NOTE: A consent agreement is for settlement purposes only and does not constitute an admission of a law violation. When the Commission issues a consent order on a final basis, it carries the force of law with respect to future actions. Each violation of such an order may result in a civil penalty of $11,000.

Copies of the documents related to this matter are available from the FTC’s web site at http://www.ftc.gov and the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to [email protected], or write to the Office of Policy and Coordination, Room 383, Bureau of Competition, Federal Trade Commission, 600 Pennsylvania Ave, N.W., Washington, DC 20580. To learn more about the Bureau of Competition, read “Competition Counts” at http://www.ftc.gov/competitioncounts.

(FTC File No. 061-0123)
(Inverness.final.wpd)

Inverness Medical Innovations, Inc., has agreed to settle Federal Trade Commission charges that it acted illegally to maintain its monopoly on consumer pregnancy tests in the United States when it acquired certain assets of a smaller competitor, ACON Laboratories, Inc., and interfered with that company’s efforts to develop and supply new consumer pregnancy tests that would compete with Inverness’ products.

The consent order announced today requires Inverness to sell the consumer pregnancy test assets related to water-soluble dye technology that it acquired from ACON and to remove barriers to ACON’s supply of digital consumer pregnancy tests to Inverness’ competitor. The order also limits Inverness’ ability to interfere with future development and supply of digital consumer pregnancy tests.

“Through its actions Inverness removed two important competitive threats to its leading market position in consumer pregnancy tests,” said David P. Wales, Acting Director of the FTC’s Bureau of Competition. “The Commission’s action today clears the way for more vigorous competition in the future that will benefit consumers through lower prices and more innovation.”

With approximately a 70 percent market share, Inverness is the market leader for U.S. consumer pregnancy tests. Inverness sells several-brand name pregnancy tests, including Clearblue, Accu-Clear, and FactPlus. In 2006, Inverness acquired assets from ACON, including a consumer pregnancy test that ACON was developing based on water-soluble dye technology, and assets related to a digital consumer pregnancy test joint venture that ACON had entered into with another company, Church & Dwight Co., Inc. By buying these assets, Inverness could restrict the development of emerging products that would compete with Inverness’ consumer pregnancy tests.

According to the Commission’s complaint, Inverness acquired these assets from ACON to maintain its monopoly in the pregnancy test market, and acted illegally to stifle future competition from ACON’s joint venture with Church & Dwight in violation of Section 5 of the FTC Act.

The complaint charges that Inverness weakened future competition in two main respects. First, it charges that Inverness limited potential competition from digital consumer pregnancy test products by, among other things, 1) imposing a covenant not to compete on ACON, limiting the scope and duration of its joint venture with Church & Dwight; 2) requiring ACON to provide Inverness with all profits from the joint venture; and 3) acquiring rights to certain intellectual property developed by ACON and Church & Dwight during their joint venture. The FTC contends that through these actions, Inverness interfered with ACON’s ability and incentive to develop and manufacture digital consumer pregnancy tests. The consent order prevents Inverness from interfering with ACON and Church & Dwight’s joint venture, and will enable ACON and Church & Dwight to remain competitive after the joint venture ends.

Second, the complaint charges that Inverness engaged in unfair competition to maintain its monopoly when it bought, but did not use, ACON’s water-soluble dye consumer pregnancy test assets. At the time, ACON was one of the only firms developing consumer pregnancy tests using water-soluble dye technology. According to the FTC, the 2006 acquisition of these assets solidified Inverness’ monopoly, and kept that technology from being developed into products that would compete with Inverness’ consumer pregnancy tests. The consent requires Inverness to divest to Aemoh Products, LLC, assets related to ACON’s water-soluble dye product, including its water-soluble dye technology. Under the terms of the order, Inverness also will be prohibited from making infringement claims against certain lateral flow products that use its water-soluble dye technology.

The Commission vote to accept the complaint and consent order and place copies on the public record was 3-0, with Commissioner Pamela Jones Harbour recused. The FTC will publish an announcement regarding the agreement in the Federal Register shortly. The complaint, consent order, and an analysis to aid public comment can be found now on the Commission’s Web site at http://www.ftc.gov/os/caselist/0610123/index.shtm.

The agreement will be subject to public comment for 30 days, beginning today and continuing through January 20, 2009, after which the Commission will decide whether to make it final. Comments should be addressed to the FTC, Office of the Secretary, Room H-135, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. The FTC is requesting that any comment filed in paper form near the end of the public comment period be sent by courier or overnight
service, if possible, because U.S. postal mail in the Washington area and at the Commission is subject to delay due to heightened security precautions.

NOTE: A consent agreement is for settlement purposes only and does not constitute an admission of a law violation. When the Commission issues a consent order on a final basis, it carries the force of law with respect to future actions. Each violation of such an order may result in a civil penalty of $11,000.

Copies of the documents related to this matter are available from the FTC’s web site at http://www.ftc.gov and the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to [email protected], or write to the Office of Policy and Coordination, Room 383, Bureau of Competition, Federal Trade Commission, 600 Pennsylvania Ave, N.W., Washington, DC 20580. To learn more about the Bureau of Competition, read “Competition Counts” at http://www.ftc.gov/competitioncounts.

(FTC File No. 061-0123)
(Inverness.final.wpd)