 Dealing with the area of law concerned with keeping up competition in private markets is the main aspect of Antitrust Law. Competition in the free enterprise system is promoted and protected with the fair trade laws and the American antitrust. With the help of these laws remedies for businesses and consumers from the influence of monopolization and conspiracy, fixed prices, boycotts, refusals to deal, divided markets are provided.
But there is also the historic objective of the antitrust laws. It is in protecting economic freedom and opportunity by promoting competition in the marketplace. However, it is possible for competition to profit consumers. It is done through lower prices, better quality, and greater choice. So, competition provides businesses the opportunity to compete on price and quality, in an open market and on a level playing field, unimpeded by anticompetitive restraints.
The Sherman Act, the major federal antitrust law, was passed in 1890. It makes unlawful every contract, combination, or conspiracy, in the restraint of trade. Essentially, monopolies are forbidden with the Sherman act.
There is an addition to the Sherman Act that is called The Clayton Act. It forbids mergers and purchases where the effect is to significantly allay competition or create a monopoly.
Nevertheless, each state has its own antitrust laws. In spite of this most of them are alike to federal versions. Advise with a good antitrust lawyer who represents companies on matters concerning government regulation of business including price fixing and restraint of free trade. Be sure that he will help you with your problem.
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