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Theodore L. Banks

Professional Profile 

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Ted Banks concentrates his practice on antitrust, compliance and life science. Mr. Banks has extensive experience with corporate litigation, including responsibility for contested mergers, environmental contamination, advertising, insurance coverage, products liability, employment law, consumer protection, and packaging and recycling. He has a national reputation for work in corporate compliance and antitrust, and was an early proponent of corporate opt-out suits as plaintiff in antitrust litigation, such as Vitamin, Carbon Dioxide, Corrugated Container, Folding Carton, and Citric Acid Antitrust Litigation, recovering more than $100 million. Through his experience in all aspects of the food industry, Mr. Banks has deep familiarity with the regulatory frameworks and state and federal laws governing food manufacture, distribution, sales, and safety. Mr. Banks is "AV Preeminent" peer review rated by Martindale-Hubbell, reflecting the highest peer recognition for both ethical standards and legal ability.

He has successfully managed business and legal challenges over the course of a 35-year career, including at Kraft Foods, where he was Chief Counsel - Global Compliance after serving as Associate General Counsel with responsibility for antitrust, general litigation, corporate transactions, sales, legal computer applications and public policy coordination. While at Kraft, Mr. Banks negotiated more than 50 major corporate transactions, including a $19 billion acquisition and an $8 billion IPO. He has advised a 5,000 member corporate sales division on pricing, distribution, and marketing issues and has assisted many corporations, large and small, in developing corporate compliance programs, including formulation of risk assessment, policy creation and program development.

Mr. Banks has been appointed as a corporate compliance monitor by the Federal Trade Commission and Competition Bureau of Canada to oversee compliance programs of respondent companies. He has developed records management systems, including the design of document management, electronic discovery and legal hold applications.

Mr. Banks has been recognized as an Illinois “Super Lawyer” in the field of corporate governance and compliance.

Mr. Banks has been a leader in bar and community organizations. Mr. Banks founded and served as first chair of the North Shore Compliance Officers' Roundtable, and is a member of the steering committee of the Chicago Regional Business Ethics Network. He is pro bono General Counsel of Keep Chicago Beautiful and treasurer of the Jewish National Fund.  He previously served as a board member of the Jewish Federation of Metropolitan Chicago. Mr. Banks is also an active member of the American Bar Association and the Society of Corporate Compliance & Ethics.

Mr. Banks received a B.A. from Beloit College in 1972. He graduated from the University of Denver College of Law in 1975, where he was Editor-in-Chief of the Denver Journal of International Law & Policy. Mr. Banks is also an adjunct professor at Loyola University Law School, teaching corporate compliance.

Representative Cases

  • Nash County Board of Education v. Biltmore Co., 640 F.2d 484 (4th Cir.), cert. denied, 454 U.S. 878 (1981) (res judicata)
  • New York v. Kraft General Foods, Inc., 926 F. Supp. 321 (S.D.N.Y. 1995)(antitrust challenge of acquisition)
  • Dart Industries v. Plunkett Co., 704 F.2d 496 (10th Cir. 1983) (distributor termination)
  • Dairy King v. Kraft, Inc., 645 F. Supp. 126 (D. Md. 1986), aff’d., 851 F.2d 356 (4th Cir. 1988)(promotional allowances)
  • Colombo, Inc. v. Dart & Kraft, Inc., 1981-2 Trade Cas. 64,409 (D. Mass. 1981)(promotional allowances)
  • L.B.G. Distributors, Inc. v. Kraft, Inc., No. 77-193 (D. Ct. Nov. 20, 1980)(refusal to deal)
  • Emhart Industries, Inc. v. Duracell International, Inc., 645 F. Supp. 549 (M.D. Tenn. 1987)(PCB contamination)
  • White Consolidated Industries, Inc. v. Whirlpool Corp., 619 F. Supp. 1022 (N.D. Ohio. 1985), aff’d., 781 F.2d 1224 (6th Cir. 1986)(antitrust challenge to acquisition)
  • Studiengesellschaft Kohle m.b.H. v. Dart Industries, Inc., Civ. A. No. 3952-CMW (D. Del. Aug. 13, 1987), aff’d., 862 F.2d 1564 (Fed. Cir. 1988)(patent infringement)
  • United States v. Stringfellow, 661 F. Supp. 1053 (C.D. Cal. 1987)(Superfund)
  • United States v. Carolawn Co., 698 F. Supp. 616 (D.S.C. 1987)(Superfund)
  • Knevelbaard Dairies, Inc. v. Kraft Foods, Inc., 232 F.3d 979 (9th Cir. 2000)(antitrust – price fixing)
  • Servais v. Kraft Foods, Inc., 252 Wis.2d 145, 643 N.W. 2d 92 (Wisc. 2002)(antitrust filed-rate doctrine)
  • Dart Industries v. Commercial Union Insurance Co., 28 Cal. 4th 1059 (2002)(insurance coverage)
  • TRW v. Dart Industries, No. 84 C 3049 (N.D. Ill. 1986)(disclaimer of warranty)
  • Dart Industries DES Litigation (drug-related birth defects)

Professional Activities & Recognitions

  • North Shore Compliance Officers’ Roundtable (Coordinator, 2006-present)
  • Keep Chicago Beautiful, Keep America Beautiful Affiliate (Board Member/Treasurer, 1987-present)
  • University of Denver Master Award (2009)
  • President’s Volunteer Service Award (2008)
  • Friend of Keep Chicago Beautiful Award (2008)
  • Canadian Sentencing Working Group (ABA Antitrust Section, 2008)
  • Jewish National Fund, Chicago Region (President, 2003-2007)
  • Jewish Federation of Metropolitan Chicago (Board Member, 2001-2007)
  • ABA TechShow (Corporate Track Coordinator, 1997-2000)
  • ABA Business Law Section, Corporate Counsel Committee (Technology Subcommittee Chair, 1997-1999)
  • ABA Law Practice Management Section, Business Interest Group (Chairman, 1993-1998)
  • Business Roundtable, Lawyers Antitrust Advisory Committee (1984-1998)
  • ABA Law Practice Management Section Corporate Law Department User Group (Chairman, 1986-1989, 1994-1996)
  • Illinois Business Roundtable, Environmental Task Force (1990-1995)
  • ABA Antitrust Section, (Membership Chair, 1989-1991)
  • Corporate Division, Annual Meeting Committee (1986-1990)
  • Young Lawyer Liaison to Section Council (1985-1989)
  • ABA National Institute on Distribution Law (Chairman, December 1983; January 1986; February 1989)
  • BMW Car Club of America, Chicago Chapter (Program Chairman, 1983-1988)
  • Joint Task Force of ABA Antitrust and International Law Sections on Department of Justice Antitrust Guidelines for International Operations (Member, 1988)
  • ABA Antitrust Section, Subcommittee on Foreign Antitrust Laws (Chairman, 1981-1984)
  • Antitrust Section Task Force on Corporate Law Departments (Member, 1983)
  • ABA Young Lawyers Division, Antitrust Committee (1981-1983)
  • Denver Journal of International Law & Policy, Board of Advisors
  • In-House Practice & Management, Board of Editors
  • Amlaw Legal Tech Seminar, Advisory Board



  • Antitrust Compliance for Corporate Counsel, American Bar Association (forthcoming, 2014)
  • Antitrust Law and Economics of Product Distribution, American Bar Association Section of Antitrust Law, co-editor (forthcoming, 2014)
  • Corporate Legal Compliance Handbook, Aspen Law & Business, with F. Banks (editor), 2002, supplements through 2013
  • Distribution Law for the Practitioner, Aspen Law & Business -Vol. I, Business & Litigation Aspects (1989, Supp. 1990-96), Vol. II, III, Antitrust Principles & Practice (1993, Supp. 1994-98) Second Edition (1999, Supplements through 2013)

Antitrust and Compliance

  • Antitrust Compliance Programs and the AU Optronics Case, ABA Antitrust Section Webinar (March 2013)
  • The International Law of Antitrust Compliance, 40 Denver J. Int. L. & Policy 368 (June 2012) (with J. Murphy)
  • Best Practices for Compliance Programs: Results of an International Survey, with Nathalie Jalabert-Doury, Concurrences: Revue de droits de la concurrence (May 2012)
    Click here to read.
  • The Trouble With Antitrust Compliance and 10 Ways to Fix It, Corporate Counsel (April 30, 2012) Click here to read.
  • Bill Kovacic and the Global Evolution of Antitrust, Concurrences (March 2012)
  • Are You Ready for the Behavioral Antitrust Approach?, with U. BenOliel, Bloomberg Law Quarterly 655 (2011) Click here to read.
  • Antitrust Analysis of Category Management, Antitrust Implications of Category Management, ABA Section of Antitrust Law (2010)
  • The Law of Antitrust Conspiracy in Trouble, Bloomberg Law Reports: Antitrust & Trade (July 2010) Click here to read.
  • Sentencing Commission Proposals and Business Reality: Records Management Does Matter in Compliance - and Business - Risk, Bloomberg Law Reports: Risk & Compliance (May 2010) Click here to read.
  • Why Your Company Should Embrace Social Media, Now! Law Technology News (May 2010)
  • Are you a Competitive Wannabe? If So, The Robinson-Patman Act Probably Is Not Going to Help You, Bloomberg Law Reports: Antitrust & Trade (April 2010) Click here to read.
  • Dominant-Firm Counseling in the Internet Era: Are You A Daredevil or A Fuddy-Duddy?, The Antitrust Counselor (ABA Antitrust Section) (March 2010)
  • Keep It Simple: Take The Perspectives of Employees, Not Lawyers, Law Technology News (Febrauy 2010)
  • General Counsel as CCEO? Not an Obvious Answer, Compliance and Ethics Magazine (June 2009)
  • Compliance in Times of Crisis, Society of Corporate Compliance and Ethics (April 2009)
  • Compliance On-Screen, Compliance and Ethics Magazine (October 2007, with G. Stavrou)
  • Recent Trends in Internal Investigations, ACC Docket (April 2007, with S. Lassar and T. Giller), winner of Apex Award of Excellence for Feature Writing.  Click here to read.
  • Getting Your Client Prepared for That Deal, 22 The Antitrust Counselor 3 (April 2005)
  • The Pros & Cons of Using Computer-Based Training for Antitrust Compliance, Antitrust Compliance: Perspectives and Resources for Corporate Counselors, American Bar Assn. (2005)
  • On-Line Antitrust Compliance Training (edited transcript), The Antitrust Source (January 2004)
  • Antitrust Liability for Category Management and Other New Merchandising Techniques: Have
  • You Updated Your Counseling?The Antitrust Source 1 (March 2003)
  • Are You Still Using the “Blunderbuss” Approach to Antitrust Compliance? ABA Corporate Counseling Report (Summer 2002)
  • A Robinson-Patman Case Study, 10 Antitrust 11 (Summer 1996)
  • On-Line Antitrust Forum Moderator, Counsel Connect (1993- 1998)
  • Using Technology to Teach Effective Antitrust Compliance, 9 Antitrust 37 (Summer 1995)


  • Perfect Fit?,Law Technology News, with Christian Liipfort (October 2011)
  • Why Your Company Should Embrace Social Media, Now!, Law Technology News (May 2010)
  • Call to Disarm, Law Technology News, with Jim Mittenthal (October 2009)
  • I Hate Technology, Law Technology News (February 2009)
  • Are You on Top of Your Electronic Communications? 1 In-House Practice & Management 8 (November 1997)
  • Computers Can Help You to Manage Outside Counsel, 39 Prac. Law. 25 (September 1993)
  • The Computer in the Corporate Law Department, in From Yellow Pads to Computer -- the Lawyer in Control, American Bar Association (1st ed. 1987; 2d ed. 1991)
  • Time to Upgrade Your Setup? ABA Business Lawyer’s Computer News (Spring/Summer 1990)
  • Is PBX for You? ABA Corporate Dispatch (Spring 1990)
  • Communications: The Next Step for Law Department Automation, ABA Business Lawyer's
  • Computer News (Fall 1989)
  • Laptops in the Air, ABA Corporate Dispatch (July 1989)
  • Keeping Those Old PCs Alive, ABA Business Lawyer’s Computer News (Summer 1989)
  • New Product Reviews, ABA Corporate Law Department User Group Newsletter (Spring 1988; Fall 1987)
  • Making the Most of the Small or Solo Department, ABA Corporate Law Department Handbook (1987)

Legal Management

  • Landing New Business: The ABCs of Making the Sale, Center for Competitive Management Webinar (July 2009)
  • What We Wish We Could Get from a Law Firm, Marketing Success Stories, American Bar Assn. (2004)
  • Work Product and Attorney Client Privilege, with Murray Bring, in Successful Partnering Between Inside and Outside Counsel, West Publishing/American Corporate Counsel Association (2000)
  • BMW of North America v. Gore: More Than Just a Car Case, BMW Car Club of America Roundel (June 1996)  
  • Making Your Corporate Law Department ‘Hot’, 6 Counselor’s Computer & Management Report 4 (Summer 1995)
  • Computers Can Help You Manage Outside Counsel, 39 Practical Lawyer No. 6 (Sept. 1993)
  • Orienting Outside Counsel, ABA Counselor’s Computer & Management Report (Fall 1992)
  • Editor, Wage Assignments and Wage Deduction Orders in Illinois, Chicago Council of Lawyers (1978)


  • International Antitrust Law in The Law of Transnational Business Transactions, West Publishing (1981; revised through 2011) [cited, Mitsubishi Motors Corp. v. Soler Chrysler-Plymouth, Inc., 473 U.S. 614, 634 n.18 (1985)]
  • EC Competition Law: Commentary, 59 Antitrust L.J. 465 (1990)
  • International Activities & Criminal Considerations Under U.S. Antitrust Laws, in International Criminal Law: A Guide to U.S. Practice and Procedure, Practicing Law Institute (1987)
  • Book review: EC Law After 1992: A Practical Guide for Lawyers Outside the Community, 22 Denver J. Int. L. & Policy 541 (1994)
  • Task Force Report: The Antitrust Guide for International Operations Revisited, 54 Antitrust L.J. 839 (1985)[editor and section author]
  • Review of Foreign Merger and Acquisition Laws, 52 Antitrust L.J. 965 (1984)[editor and section author]
  • Current Developments in Foreign Antitrust, ABA Section of Antitrust Law (March 1984)
  • Editor, Chapter IX, Trade or Commerce with Foreign Nations, in Antitrust Law Developments, American Bar Association (1984)
  • Book Reviews, The International Lawyer (1979)
  • Contributing Editor, International Court of Justice Opinion Briefs, American Bar Association (1978).
  • GATT, Altered Economics, and DISC, 5 Denver J. Int. L. & Policy 121 (1975)
  • Political Terror and International Law,” Revista da Faculdade de Direito (U.F.M.G., Brasil, 1975)
  • The Difficulty of Consensus in the Middle East, 5 Denver J. Int. L. & Policy 419 (1975)

Speaking Engagements


    “Implementing an Efficient and Effective Ethics and Compliance Program,” Corporate Counsel (ALM) General Counsel Conference West Coast, San Francisco, California, November 2011.

  • “Antitrust Compliance for the Mid-Market: Because There is No Such Thing as Flying Under the Radar,” American Bar Association Section of Business Law, Washington, D.C., November 2011.
  • Corporate Compliance Programs: “Where Outside Counsel Can Help – or Make a Bad Situation Worse,” New York City Bar Association, October 2011.
  • “Using Automation for Compliance, Advanced Discussion Group Leader, Society of Corporate Compliance & Ethics”, Las Vegas, Nevada, September 2011.
  • “Effective Antitrust Compliance, Society of Corporate Compliance & Ethics”, Las Vegas, Nevada, September 2011.
  • “Smoothing the Distribution Path: Advising Clients on Antitrust Concerns in Channel Chairman,” PLI Corporate Compliance and Ethics Institute, Chicago, Illinois, May 2011, May 2010.
  • “Management”, ABA Antitrust Section Webinar, May 2011.
  • “Insider Trading and Compliance,” Law Bulletin White Collar + Corporate Governance Conference, Chicago, Illinois, April 2011.
  • “Deception, Monopolization & Category Management,” ABA Antitrust Section Spring Meeting, March 2011.
  • “Corporate Culture and International Compliance,” University of Denver Sturm College of Law, Denver, Colorado, March 2011.
  • “Discrimination in Price and Promotions,” PLI Antitrust Institute, Chicago, Illinois, March 2011, June 2010.
  • Antitrust Counseling for Firms with Large Market Share: “Navigating the Antitrust Minefield in the Current Era of Uncertainty,” Illinois State Bar Association Antitrust & Competition Law Council, Chicago, Illinois, February 2011.
  • “Antitrust Compliance for Corporate Counselors,” ABA Section of Antitrust Law Webinar, January 2011.
  • Corporate Compliance Seminar, Loyola University Law School, Chicago, Illinois, Fall 2011, 2010.
  • “Corporate Leadership” (panel moderator), Green Legal Matters Conference, New Orleans, Louisiana, October 2010.
  • “Integrating Legal Requirements into Business Procedures,” Annual Ethics & Compliance Conference, Ethics & Compliance Officer Association, Anaheim, California, September 2010.
  • “Modern Antitrust Compliance,” Society of Corporate Compliance & Ethics Annual Conference, Annual Compliance Institute, Chicago, Illinois, September 2010.
  • “Corporate Compliance and Ethics,” PLI Antitrust Institute, Chicago, Illinois, June 2010.
  • Chairman, PLI Corporate Compliance and Ethics Institute, Chicago, Illinois, May 2010.
  • “Ethics Issues in Global Antitrust Compliance,” Chicago Forum on International Antitrust Issues, Northwestern University Law School, May 2010.
  • “Why Corporate Culture is the Only Thing that Matters in Compliance & Ethics,” Compliance and Ethics Conference, Blue Cross & Blue Shield Association Anti-Fraud, New Orleans, Louisiana, May 2010.
  • “Setting the Stage for Your New Compliance Program,” Society of Corporate Compliance & Ethics Regional Conference, Chicago, Illinois, April 2010.
  • “Up the Ladder Reporting and SOX: Not Enough,” University of Denver Sturm College of Law, April 2010.
  • Commentator, “Behavioral Exploitation and Antitrust,” 10th Annual Antitrust Colloquium, Loyola University School of Law, Chicago, Illinois, April 2010.
  • “Risks and Benefits of Social Networking in Corporations,” Legal Tech, New York, N.Y., February 2010.
  • “Creating the Ethical Corporate Culture,” PLI Advanced Compliance Workshop, San Francisco, California, December 2009.
  • “The Patent-Antitrust Interface,” Intellectual Property Law Association of Chicago, John Marshall Law School, Chicago, Illinois, November 2009.
  • “Managing Ethics and Compliance During a Recession,” Society of Corporate Compliance & Ethics 8th Annual Compliance and Ethics Institute, Las Vegas, Nevada, September 2009.
  • “Managing Compliance & Ethics in Tough Economic Times,” Institute of Internal Auditors GRC Conference, San Diego, California, August 2009.
  • “Landing New Business: The ABCs of Making the Sale,” Center for Competitive Management, Webinar, July 2009.
  • “New Requirements & Concerns for Nonprofits,” Keep America Beautiful State Leaders Conference, Chicago, Illinois, July 2009.
  • “The Role of Lawyers in a Company’s Compliance Program,” Association of Corporate Counsel, Webinar, July 2009.
  • “Why Should I Hire You?” Legal Tech West, June 2009.
  • “Robinson-Patman Act,” PLI 50th Annual Antitrust Institute, Chicago, Illinois, June 2009.
  • “Doing Ethical Business in Europe,” Incisive Media General Counsel Conference, New York, N.Y., June 2009.
  • “Implementing Antitrust Compliance Programs,” PLI 50th Annual Antitrust Institute, Chicago, Illinois, June 2009.
  • “The Obama Administration and New Enforcement Risks,” Incisive Media General Counsel Conference, New York, N.Y., June 2009.
  • Chairman, PLI Corporate Compliance and Ethics Institute, Chicago, Illinois, May 2009.
  • “Practical Issues in Business Law,” Northwestern University School of Law, Chicago, Illinois, April 2009.
  • In-House Counsel, Compliance Officers & Ethical and Practical Obligations, University of Denver Seminar, “Corporate Collapse: Regulatory and Criminal Issues in Corporate America”, Denver, Colorado, April 2009.
  • “Corporate Governance That Works,” University of Denver College of Law Masters Lecture, Denver, Colorado, April 2009.
  • “Corporate Legal Compliance in 2009: Are You Ready to Deal with Today’s Risks?” Aspen Publishers/Wolters Kluwer, Webcast, March 2009.