using at times. This article explains antitrust law and its significance in the business and legal worlds of today.
Antitrust laws are laws developed by government entities. The laws safeguard customers from unfair business practices that do not conform to law and fairness; they also ensure that there is fair competition for both workers and customers.
An excellent example of antitrust law is that of Rockefeller’s Standard Oil. The company dropped prices over 50% they also acquired a lot of its competitors. In addition, as their dominance of markets increased and the business lowered its cost of production and pricing even higher. It is able to continue earning greater profits through this. It’s a great example, because it’s widely known that firms can hike the cost of production and maintain production costs down. Oil companies are one of these examples. This kind of situation is reasons why antitrust laws exist in order to protect consumers.
The law of antitrust is concerned regarding the potential of merging companies. Large companies that offer similar products and join forces will effectively wipe out any competition, making it unjust for businesses that offer similar products or services. Antitrust laws combat such cases to ensure that everyone is able to earn money from the business they run. roy3ofu8vg.