Essay about Antitrust Law
“The mission of the Antitrust Division is to promote economic competition through enforcing and providing guidance on antitrust laws and principles”. Antitrust laws have been developed to create the strong foundation of a free & open market of a vibrant economy. Market is so competitive now a days, there are so many options available for products & services, which is the result of antitrust laws. Antitrust is developed to help both consumers & business owners. “These laws promote vigorous competition and protect consumers from anticompetitive mergers and business practices”
Antitrust laws are developed by the U.S. Government, also commonly known as "competition …show more content…
Antitrust law have several regulations enforced which regulates the practices those prevent fair trade, “such as price-fixing conspiracies, corporate mergers likely to reduce the competitive vigor of particular markets, and predatory acts designed to achieve or maintain monopoly power”
The first Antitrust law was, the Sherman Act, it was introduced in 1890 as a "comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade."
Since 1890, congress have added additional antitrust laws to enhance the effect. In year 1914 two more laws were added –
1. the Federal Trade Commission Act, which created the FTC 2. Second law added was called the Clayton Act
There were further revisions done to these, however these three federal core laws are still in practice.
“The antitrust laws proscribe unlawful mergers and business practices in general terms, leaving courts to decide which ones are illegal based on the facts of each case. Courts have applied the antitrust laws to changing markets, from a time of horse and buggies to the present digital age. Yet for over 100 years, the antitrust laws have had the same basic objective: to protect the process of competition for the benefit of consumers, making sure there are strong incentives