From economists to CEOs to lawyers to numerous people outside of these professions, knowing about antitrust laws can be empowering. According to the video “Antitrust Conversations: Fundamentals of Antitrust Law,” antitrust law exists to help consumers by demanding lower prices, improved production, and higher quality for consumers from companies. A range of enforcement mechanisms in the U.S. help to enforce antitrust legislation.
For example, the Department of Justice can leverage their power to prosecute criminal and civil antitrust cases. The FTC also has the power to hold those breaking antitrust laws accountable through civil proceedings in the court system or on an agency level. For consumers, having these protections in place and multiple enforcements ensures that when an injustice related to trusts occurs, they can expect protection.
When you own or operate a company that is affected by antitrust legislation, it pays to read up on what you can and can’t do as an organization under these laws. Failing to follow regulations that prevent trusts from occurring can have financial consequences to millions or billions of dollars if you’re not careful. What’s more, it can cost you your business, your livelihood, your reputation, and more if the enforcing agencies find that you violate these laws, so you should consult legal counsel if you’re worried about those violations. Don’t hesitate to ask a trusted lawyer for more information on antitrust law.
