Antitrust attorneys ensure that companies do not promote unfair competition that can have a negative impact on consumers. Antitrust laws such as the Sherman and Clayton Act protect and promote fair business competition in all sectors, as shown in the video. The laws prevent companies from coming together and creating regulations that can disrupt the economy.
The Sherman Antitrust Act first came into existence in 1890.
The act promotes free competition for all people engaged in business. The antitrust law makes fixing prices, allocating customers, boycotting, and other unethical practices illegal.
The Clayton Antitrust Act mainly prohibits anticompetitive mergers and price discrimination. The Antitrust Act enacted in 1914, aims to protect small businesses from large companies. The Clayton Act explains that labor is not an economic commodity.
The Federal Trade Commission Act (FTC), and the U.S. Department of Justice (DOJ) help enforce the federal antitrust acts. The FTC mainly deals with economic sectors where consumer spending is high. The DOJ, on the other hand, deals with industries such as banks, airlines, and telecommunications. The attorneys can also advise clients regarding mergers and acquisition deals. Hence, antitrust attorneys must be very familiar with all the aspects of the businesses they are representing.
