Antitrust

laws, also referred to as “competition laws”, are statutes developed to protect

consumers from predatory business practices by ensuring that fair competition

exists in an open-market economy. Competition laws regulate and prohibit several

questionable business activities such as market

allocation/ de facto monopoly whereby companies agree to steer clear of each

other’s identified geographical market or territories; bid rigging whereby conspiring entities manipulate the market with

a view of retaining current market share and price for each entity; and price fixing whereby two or three

entities agree on the same selling price. Competition laws are designed to

maximize consumer welfare by regulating or preventing business activities which

stifle competition. Read more...