This report explains the essentials of antitrust law and why limited antitrust protection granted in the Capper- Volstead Act is critical to cooperative marketing by agricultural producers. It outlines who is covered by Capper- Volstead, how a cooperative must be organized to qualify for limited antitrust protection, and what types of activity are protected. It also discusses several areas that pose special antitrust risks for farmer cooperatives and other points of law cooperative leaders must be aware of to successfully manage their antitrust risk.