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Federal antitrust laws, as well as most state laws, provide for "treble" (triple) damages against antitrust violators in order to encourage private lawsuit enforcement of antitrust law. Thus, if a company is sued for monopolizing a market and the jury concludes the conduct resulted in consumers' being overcharged $200,000, that amount will ...
The Sherman Antitrust Act of 1890 [1] (26 Stat. 209, 15 U.S.C. §§ 1–7) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce and consequently prohibits unfair monopolies.
It is also known as antitrust law (or just antitrust [4]), anti-monopoly law, [1] and trade practices law; the act of pushing for antitrust measures or attacking monopolistic companies (known as trusts) is commonly known as trust busting. [5] The history of competition law reaches back to the Roman Empire.
Standard Oil (Refinery No. 1 in Cleveland, Ohio, pictured) was a major company broken up under United States antitrust laws.. The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history.
Antitrust laws ensure businesses do not engage in competitive practices that harm other, usually smaller, businesses or consumers. These laws are formed to promote healthy competition within a free market by limiting the abuse of monopoly power.
The United States Department of Justice Antitrust Division is a division of the U.S. Department of Justice that enforces U.S. antitrust law. It has exclusive jurisdiction over federal criminal antitrust prosecutions, and it shares jurisdiction over civil antitrust enforcement with the Federal Trade Commission (FTC).
Bill Baer, who led antitrust efforts at the agencies during the Obama and Clinton administrations, said that typically each agency will take the lead in areas where it has amassed expertise.
Antitrust Act can refer to: . The Sherman Antitrust Act, first United States federal government action to limit monopolies . Sherman Antitrust Act (federal preemption) The Clayton Antitrust Act, enacted to remedy deficiencies in antitrust law created under the Sherman Antitrust Act