In recent years, information exchange has become a priority for both government antitrust enforcers and private antitrust plaintiffs. Across industries, business practices such as benchmarking and algorithmic price setting are under increased scrutiny. And the withdrawal of agency guidance providing information exchange “safe harbors” has only increased the uncertainty surrounding these common practices. This CLE will cover the antitrust theories of liability that arise from information exchange, provide lessons learned from recent enforcement actions, and provide tips to know when to call antitrust counsel for guidance.