What is the Sherman Antitrust Act?
The Sherman Antitrust Act is a federal law passed by Congress in 1890 in order to protect competition in the marketplace and ensure consumers have access to products and services at competitive prices. The law prohibits businesses from forming monopolies and engaging in anticompetitive and unfair tactics to gain an advantage in the marketplace. The law also prevents businesses from using coercive tactics to deter competitors from entering the market. The primary purpose of the law is to promote competition by keeping prices low and giving consumers a greater selection of goods and services. In Maryland, the Office of the Attorney General is responsible for enforcing this act and prosecuting any companies or individuals found to be in violation. Officials investigate any reports of price fixing, market allocation, predatory pricing, and other activities that could possibly be damaging to the marketplace. The office also pursues legal action against companies who try to use their size or influence to unfairly dominate a market. The Sherman Antitrust Act promotes free-market competition for the benefit of consumers, and this is why it is important to report any potential violations to the Office of the Attorney General. Unfair competition is not beneficial for any consumers, and it is up to us to hold companies accountable for their actions.
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