What is the Sherman Antitrust Act?
The Sherman Antitrust Act is a federal law that strives to promote fair competition and prevent monopolies. It is a key piece of legislation that seeks to maintain competition and ensure that companies do not become too powerful. The law was enacted in 1890 and was the first federal law to limit the power of large businesses. The Sherman Antitrust Act applies to businesses in the state of New Jersey and throughout the United States. This law prohibits businesses from forming monopolies and engaging in any activities that would impede competition. It also prohibits businesses from forming cartels, setting minimum prices, or forming exclusive agreements with suppliers. The Sherman Antitrust Act is enforced by the Federal Trade Commission and they will investigate claims of antitrust violations and levy fines or take other steps to enforce the law if necessary. The law also enables private citizens to sue companies for engaging in practices that violate the law. The Sherman Antitrust Act is an important law in New Jersey and throughout the United States. It helps to ensure that businesses are competing fairly and that no single company can become too powerful. This law is essential for protecting consumers and promoting competition in the marketplace.
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