What is antitrust law and what are the principles governing it?

Antitrust law is a type of business transaction law that is designed to protect the open and fair competition of business. It is based on the idea that competition leads to better services and product pricing for consumers, and is regulated by federal and state governments in the United States, including North Carolina. The principles governing antitrust law are: 1. Prohibition of monopolies. Monopolies are businesses that have a very large market share and can raise prices and limit competition. These are illegal and are enforced by the government. 2. Promotion of inter-brand competition. This principle promotes competition between different brands and products in the marketplace. 3. Barriers to entry must be eliminated. Barriers to entry prevent new companies from entering the market. They are usually in the form of legal restrictions, such as requiring a license or patent registration in order to offer a product. This principle encourages competition by making it easier for new businesses to enter the market. 4. Mergers should be monitored. Mergers occur when two companies join together and become one. This can lead to larger companies with more market power, so the government monitors mergers between companies to make sure competition is still present. These principles are designed to protect consumers from predatory business practices and ensure a competitive market. By enforcing these principles, the government is able to promote open and fair competition, giving customers the best services and products at the best prices.

What is antitrust law and what are the principles governing it?

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