What is the Sherman Antitrust Act?

The Sherman Antitrust Act of 1890 is a federal law in the United States that helps protect the competitive marketplace from monopolies, price-fixing, and other anti-competitive practices. The law was drafted in response to growing public distrust of big business and its power to manipulate markets for their own benefit. It prohibits agreements between competitors to limit competition, and makes it illegal to create a monopoly by buying out competitors. The law was enacted in Nebraska in 1920, and is still in effect today. Under the law, corporations may not act to reduce competition or restrain trade. This includes agreements between businesses regarding prices, market share, or other business practices that may limit competition. It is illegal to form a monopoly, or a single company with exclusive control over a certain market or industry, as well as colluding with other companies to fix prices or prevent smaller competitors from entering the market. The Federal Trade Commission (FTC) is responsible for enforcing the law and investigating possible violations. The Sherman Antitrust Act is a major pillar of the American economy. By protecting competition and keeping prices down, consumers have access to goods and services at the fairest possible cost. It also encourages innovation by preventing businesses from taking control of a market and stifling creativity. In Nebraska, it is illegal to create a monopoly or restrain trade, which will ensure that businesses continue to compete and foster economic growth.

Related FAQs

What are the implications of antitrust law for new technology?
What is the role of government agencies in antitrust enforcement?
What are the consequences of an antitrust violation?
What is the Clayton Antitrust Act?
What are the rights of consumers under antitrust law?
How can antitrust law be used to protect consumers?
Who enforces antitrust law in the US?
What are the most important antitrust court cases?
What is the role of the courts in antitrust enforcement?
What are the key concepts of antitrust law?

What is the Sherman Antitrust Act?

Related FAQs

Related Blog Posts