What is the purpose of antitrust law?

The purpose of antitrust law is to protect consumers from unfair practices and to keep the marketplace competitive. Antitrust laws, also known as competition laws, are designed to protect consumers from anti-competitive behavior by companies. These laws prohibit certain forms of conduct that could lead to a monopoly, such as price fixing, merger and acquisition activity, and market allocation agreements. In South Carolina, antitrust laws are enforced by the state Attorney General, state Department of Justice, and civil courts. Antitrust laws seek to protect small businesses or entrepreneurs, since they can be hurt when larger firms engage in anti-competitive behavior. Enforcement of antitrust laws also prevents companies from engaging in unfair practices that will raise prices, or limit competition, without creating new or innovative products or services. When a company violates antitrust laws, it can be fined by the government and could even be forced to break up into smaller parts or companies. By enforcing antitrust law, South Carolina seeks to protect consumers from unfair and anti-competitive businesses practices and promote fair competition in the state’s marketplace.

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