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ANTITRUST LAW by Alice Ken
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ANTITRUST LAW |
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Education,Law,Writing
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Antitrust law is also called competition law. The antitrust law is developed by United States government. The law protects the consumer from the predatory business practices. The protection is done by ensuring that there is the existence of fair competition in an open market economy. The antitrust law is applied to many questionable business activities and not limited to the market allocation, bid rigging, and price fixing. The first antitrust law was passed by the Congress in 1890. The Congress passed the Federal Trade Commission Act and Clayton Act. The antitrust law normally proscribes both the unlawful mergers and the business practices leaving the court to make a ruling on which is illegal based. The Courts apply the antitrust law when changing markets since the time of horse to present digital age. Over the hundred years Antitrust law aim at protecting the process of competition that benefits the consumers. The Federal Trade Commission Act bans the unlawful competition methods and unfair deceptive practices. Clayton Act addresses the practices of the Sherman Act. The Clayton Act bans the discriminatory prices between the merchants. The Department of Justice is entitled to investigate the antitrust matters and to meet a grand injury to suspects. Both civil and criminal penalties apply if the company is determined to be in the violation of the antitrust laws.
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