What Is Antitrust Law and Why Should You Care?
Antitrust laws are beneficial to customers and proprietors of small firms. Why should you care? Watch this video to learn why you should.
The primary goals of antitrust laws are to safeguard businesses, free trade, and the interests of consumers and competitors. Antitrust laws affect your day-to-day life in various ways, including when you shop for groceries at the supermarket, buy a car, or download new software off the internet.
The objective of the Federal Trade Commission is to uphold and enforce a competitive marketplace. Antitrust law promotes market competition while banning anticompetitive mergers and corporate practices. Antitrust law helps to prohibit monopolization, which occurs when a company, typically a large company with market power, uses that market strength to drive out competition or to keep a competitor confined to a niche market.
Antitrust law prohibits conspiracy, which is when companies bond together and decide that they would charge the same amount instead of determining their rates and competing with one another. Consult with your attorney if you have any feeling that the action you are about to do might have antitrust repercussions.