It stated that lawyers engage in "trade or commerce" and hence ended the legal profession's exemption from antitrust laws.

Goldfarb contacted a lawyer, who quoted him a price suggested in a minimum-fee schedule published by the Fairfax County Bar Association, which was 1% of the property's value.

[2] The minimum-fee schedule was a list of prices, suggested by the county bar for various basic legal services, such as wills, marriage contracts, and title searches.

The enforcement power lay in the hands of the State Bar, which was the administrative agency used by the Supreme Court of Virginia to regulate the legal profession.

And finally, in United States v. Socony-Vacuum Oil Co, Inc.,[5] the Court proclaimed, in a famous footnote, that price-fixing need be neither intentional or feasible to be found per se illegal.