What is antitrust approval?
Antitrust Approval means any approval or consent of any Government required under any applicable Antitrust Law or the expiration or termination of any applicable waiting period under any applicable Antitrust Law.
What is antitrust agreement?
Antitrust laws also referred to as competition laws, are statutes developed by the U.S. government to protect consumers from predatory business practices. They ensure that fair competition exists in an open-market economy.
What is antitrust law example?
An example of behavior that antitrust laws prohibit is lowering the price in a certain geographic area in order to push out the competition. For example, a large company sells widgets for $1.00 each throughout the country. Another company goes into business and sells widgets just in California or $. 90 each.
What are antitrust principles?
The premise of the antitrust laws is that consumers benefit when there is full and fair competition. Thus, the antitrust laws forbid competitors from engaging in cartel-like behavior such as price fixing and forbid competitors from unfairly exercising market leverage to raise prices or exclude competition.
What are examples of antitrust violations?
The most common antitrust violations fall into two categories: (i) Agreements to restrain competition, and (ii) efforts to acquire a monopoly. In the case of a merger, a combination that would likely substantially reduce competition in a market would also violate antitrust laws.
What caused antitrust laws?
The Sherman Antitrust Act is a law the U.S. Congress passed to prohibit trusts, monopolies, and cartels. Its purpose was to promote economic fairness and competitiveness and to regulate interstate commerce. Ohio Sen. John Sherman proposed and passed it in 1890.
Who enforces antitrust laws?
The FTC’s Bureau of Competition, working in tandem with the Bureau of Economics, enforces the antitrust laws for the benefit of consumers. The Bureau of Competition has developed a variety of resources to help explain its work.