Antitrust Law
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Antitrust deals with the area of law concerned with maintaining
competition in private markets. The American antitrust and fair trade
laws protect and promote competition in the free enterprise system.
These laws provide remedies for businesses and consumers from the
effects of monopolization and conspiracy, fixed prices, boycotts,
refusals to deal, divided markets, etc.
The historic goal of the antitrust laws is to protect economic
freedom and opportunity by promoting competition in the marketplace.
Free competition benefits consumers through lower prices, better
quality, and greater choice. Competition provides businesses the
opportunity to compete on price and quality, in an open market and on a
level playing field, unhampered by anticompetitive restraints.
The major federal antitrust law, the Sherman Act, was passed
in 1890 and makes illegal every contract, combination, or conspiracy,
in the restraint of trade. Basically, the Sherman act prohibits
monopolies.
The Clayton Act, which supplements the Sherman Act, prohibits
mergers and acquisitions where the effect is to substantially lessen
competition or create a monopoly.
Each state has its own antitrust laws, but most are similar to
federal versions. Antitrust lawyers represent companies on matters
concerning government regulation of business including price fixing and
restraint of free trade.
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Antitrust Law