Federal Law Books: A Guide to Federal Antitrust Law
Federal antitrust law refers to the body of laws and regulations that are intended to promote competition and prevent monopolies in the United States. These laws and regulations are established by Congress and federal agencies, such as the Federal Trade Commission (FTC) and the Department of Justice (DOJ), and they cover a wide range of issues related to antitrust, including mergers, price fixing, and illegal restraints of trade.
The Sherman Antitrust Act is the primary federal antitrust law in the United States. It is a 1890 law that prohibits any contract, combination, or conspiracy in restraint of trade or commerce. The Clayton Act is another important antitrust law, it was passed in 1914, it supplements the Sherman Act by prohibiting certain types of business practices, such as price discrimination, exclusive dealing contracts, and interlocking directorates.
These laws are enforced by the DOJ's Antitrust Division and the FTC, which investigates and brings actions against companies that violate antitrust laws. The FTC also has the power to bring actions against companies that engage in deceptive or unfair trade practices.
Federal antitrust law also includes regulations that set standards for specific industries, such as the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) which requires companies to notify the FTC and the DOJ before certain large mergers and acquisitions take place.
Overall Federal antitrust laws play an important role in promoting fair and competitive markets, protecting consumers from monopolistic practices, and ensuring that businesses compete on a level playing field. It is important for individuals, companies and organizations to stay informed about these laws and regulations to ensure compliance and protect their rights.