What Are Antitrust Laws
Full Video Transcript
Antitrust laws protect competition in the marketplace. Consumers benefit from competition because businesses compete through lower prices and better products and services. So what kinds of business practices are anticompetitive? Examples include when two business competitors agree to fix prices, split up the market, or form illegal monopolies. There are three major federal antitrust laws: the Sherman Antitrust Act, the Clayton Act and the Federal Trade Commission Act. States have their own antitrust laws as well. While violation of these laws can result in hefty fines as well as criminal penalties, the Justice Department’s number one antitrust priority is criminal prosecution of these activities. Antitrust matters should not be taken lightly. A large percentage antitrust investigations stem from consumer complaints about a business’s practices. To learn more about antitrust compliance, and how to deal with problems, contact an experienced attorney in your area today.