What is the Sherman Antitrust Act?

The Sherman Antitrust Act is a federal law that was passed in 1890 to protect consumers from unfair competition and monopolies. It prohibits any business, corporation, or person from using unfair methods to gain a competitive edge in the market. This includes practices like price-fixing, which is when two or more firms agree to keep prices at the same level, reducing competition and driving up prices for consumers. The Sherman Antitrust Act was the first major piece of federal legislation that aimed to regulate competition and break up monopolies. It applies to all states, including Wisconsin. The Wisconsin Legislature has also enacted its own unfair competition laws that further protect consumers in the state. Under the Sherman Antitrust Act, businesses must engage in fair practices with competitors and not attempt to gain an unfair advantage. If a business is found to have violated the Sherman Antitrust Act, penalties can include fines and jail time. The Federal Trade Commission is responsible for enforcing the Sherman Antitrust Act, which it has done since 1914. The Sherman Antitrust Act was a major step forward in protecting consumers from unfair competition. As a result, businesses must follow it or face consequences.

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What is the Sherman Antitrust Act?

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