Although plea bargaining has been a part of the criminal justice system for many years, its use in criminal antitrust cases is a recent byproduct of the fact that criminal antitrust violations are now felonies. Basically, plea bargaining describes the process engaged in by prosecutors, defense counsel, and defendants in which prosecutors offer a defendant the opportunity to avoid a trial in exchange for a guilty plea to the charges made to reduced charges, dismissal of some charges, a particular sentence, or a combination of these factors. Although frequently criticized, the practice has been expressly recognized as proper by the United States Supreme Court. The Federal Rules of Criminal Procedure govern pleas and plea agreements. With regard to antitrust matters, the most significant provision is subdivision 11 (e), which contemplates three types of plea agreements: those in which the Government might dismiss certain charges, those in which the Government may make a sentencing recommendation, and those in which both the Government and the defendant agree that a specific sentence is an appropriate case disposition. The court is prohibited from participating in plea discussions, and the disposition or sentencing aspect of the agreement is discretionary with the court. In addition to this basic legal framework, the Department of Justice has published a pamphlet which outlines in general terms the department's policies concerning plea bargaining. These principles authorize Government attorneys to engage in plea bargaining in appropriate cases and to generally oppose pleas of nolo contendere except under certain circumstances. Plea bargaining is undertaken on a case by case basis, and any agreement reached must be approved by the Assistant Attorney General. The single most important factor in considering plea bargaining is when the cooperation is offered and its relative value. Those who wish to plea bargain during the later phases of an investigation or after a case has been filed must offer the most in relative terms. Footnotes are included.