In the United States, antitrust law is a collection of federal and state government laws that regulate the conduct and organization of business corporations and are generally intended topromote competition and prevent monopolies. Federal antitrust laws provide for both civil and criminal enforcement of antitrust laws.
People also ask
Do antitrust laws protect competing businesses?
Antitrust laws were not put in place to protect competing businesses from aggressive competition. Competition is tough, and sometimes businesses fail. That鈥檚 the way it is in competitive markets, and consumers benefit from the rough and tumble competition among sellers.
What is the first antitrust law?
Congress passed the first antitrust law, the Sherman Act, in 1890 as a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade.. In 1914, Congress passed two additional antitrust laws: the Federal Trade Commission Act, which created the FTC, and the Clayton Act.
What is the trust in antitrust?
The trust in antitrust refers to a group of businesses that team up or form a monopoly in order to dictate pricing in a particular market. [Important: Antitrust laws exist to promote competition among sellers, limit monopolies and give consumers more options.]
Who enforces antitrust laws in the United States?
FTC Fact Sheet: Antitrust Laws: A Brief History. . Today, the Federal Trade Commission鈥檚 (FTC鈥檚) Bureau of Competition and the Department of Justice鈥檚 Antitrust Division enforce these three core federal antitrust laws.