General Information About Antitrust Laws
Antitrust laws are in the interests of any type and size of business. Having the right information and legal assistance may assist you in observing antitrust laws to protect your rights or prevent severe legal issues that may range from prison time to costly fines and a damaged reputation.
Below, we share some information stemming from common questions we receive regarding antitrust laws.
What is antitrust law?
It refers to the legislation regarding the regulation of commerce and trade activities to prevent monopolistic practices, unfair restraints of trade or price fixing. The purpose is to protect fair competition among businesses and the interests of consumers.
What are the Sherman Act and the Clayton Act?
These are the core federal laws of the antitrust laws. The Sherman Act sets the rules to regulate the acts of competitors to prevent unlawful practices or monopolies. The Clayton Act includes specific practices like the prohibition of mergers and acquisitions that could potentially harm fair competition in the marketplace. It is an amendment to the Sherman Act.
What is the role of the Federal Trade Commission (FTC)?
This federal agency is in charge of promoting fair competition in the American marketplace for the benefit of consumers. The FTC is also in charge of enforcing antitrust laws and relevant policies.
What are monopolies and price fixing?
Monopoly refers to a business or seller that holds a dominant position in the marketplace, allowing full control of prices and excluding any competitor. Price fixing is the unlawful determination and agreement of prices between certain competitors to maintain high product prices, to the detriment of consumers’ best interests. Prices are regularly dictated through supply and demand.
Call For Further Guidance On Antitrust Laws
For answers to your antitrust questions, contact Akeel & Valentine, PLC. Call us at 248-918-4542 or fill out our secure contact form.