What are Antitrust Laws?

Most employees probably think that antitrust only applies to executives or business owners. But it’s important that every employee knows about antitrust and fair competition laws because there are many provisions that can affect any employee in an organization. Now, antitrust laws are in place to help ensure that the marketplace remains competitive by prohibiting certain kinds of anti-competitive or unfair business practices. The term "antitrust" comes from U.S. law, which was passed to deal with "business trusts.” Today these business trusts are called cartels monopolies. Antitrust laws were first established in the 1800s when large monopolies (called trusts) had control over certain industries such as railroads and oil production and distribution. These monopolies used their control to eliminate competitors and dominate a market. Obviously, the lack of competition creates a situation that could end up harming the consumer or affect an entire industry as competition is eliminated.
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