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What is Antitrust Law?
Antitrust law refers to a body of laws pertaining to the prohibition of unfair business practices, cartels and detrimental monopolies. It is also known as Competition Law. These laws are enacted to promote healthy competition in businesses and prevent practices that may harm the economy or consumers. It was initially formulated to fight the corporate conglomerates during the 19th century. The Congress passed the Sherman Antitrust Act which forms the backbone of present day antitrust laws, in 1890. Breaches of antitrust law affect a number of business aspects antitrust law forbids business entities or an associated group of business entities from having uneven control of the distribution and production of a good or service. You must be aware that antitrust laws do not prohibit all monopolies but only ones that are formulated illegally or unethically. Some of the common unfair business practices prohibited by this law include territory fixing, price fixing and bid rigging.
The Role of Antitrust Lawyers
Antitrust lawyers are legal professionals that can help you file a law suit against a company that may have violated federal or state antitrust laws. They may also be able to help you in case your company is accused of breaching antitrust laws. In case your business is considering a transaction that may invoke antitrust regulations such as a merger, you need to get in touch with an antitrust lawyer. Similarly, if your business has been sued for performing unfair practices in the form of monopolies or price discrimination, antitrust lawyers can help defend you and your business. These professionals have a thorough knowledge of antitrust laws which enable them to guide you in the best possible manner. They can provide you with legal advice or represent you in the court, making sure that things end up in your favour so that you can carry out your business smoothly.
Finding the Right Antitrust Lawyers
When looking for antitrust lawyers there are a number of factors that you need to consider. The most important of these is to take into account the experience of an attorney. Make sure you hire an experienced lawyer as he/she can provide you with the most reliable legal advice. Experienced antitrust lawyers can offer you effective guidance and representation compared to inexpert professionals. Besides, you should also research the general repute of an attorney so that you can be sure that you are hiring the best of the lot.