Browse Definitions :
Definition

antitrust

Antitrust is a group of laws established to regulate business practices in order to ensure that fair competition occurs in an open-market economy for the benefit of consumers.

Antitrust exist as regulations on the conduct of business and are a part of competition law in the United States. Antitrust laws work to stop unjust practices, break down unfair collaborations against smaller competitors and promote healthy competition in the free market. By leveling the playing field of the open market, competition among vendors results in better quality goods, greater selection, lower prices and more innovation.

In the United States, the Federal Trade Commission (FTC) is responsible for the enforcement of antitrust laws and is focused on the most lucrative consumer markets, including informational technology (IT), Internet services, energy and healthcare. Antitrust laws include prohibiting price fixing and restriction of trade by special interest groups. Antitrust laws also ban mergers that would reduce a market’s competition, the creation of Monopolies to obtain control of market share and efforts to maintain a monopoly by dishonest practices. The Department of Justice (DOJ) may sanction organizations for criminal antitrust violations when given evidence from the FTC. Industries that fall under the authority of the DOJ include banks, telecommunications and transportation such as airlines and railroads.

Key antitrust legislation in the US includes the Interstate Commerce Act of 1887, the Sherman Act of 1890, the Clayton Act of 1914 and the Federal Trade Commission Act of 1914. Supporters of anti-trust laws assert that without government oversight, corporate abuse and wealth and power consolidation will lead to higher prices and fewer choices, hurting consumers. While supporters of antitrust laws believe they guarantee a free market, opponents argue that the free market, not the government, should correct bad business behavior. They also believe that, by self-governing, corporations can use mergers to increase efficiency and adapt quicker to new markets, while government intervention through antitrust laws only stifles potential innovation.

This was last updated in September 2018

Continue Reading About antitrust

Networking
Security
  • cloud security

    Cloud security, also known as 'cloud computing security,' is a set of policies, practices and controls deployed to protect ...

  • privacy impact assessment (PIA)

    A privacy impact assessment (PIA) is a method for identifying and assessing privacy risks throughout the development lifecycle of...

  • proof of concept (PoC) exploit

    A proof of concept (PoC) exploit is a nonharmful attack against a computer or network. PoC exploits are not meant to cause harm, ...

CIO
  • data collection

    Data collection is the process of gathering data for use in business decision-making, strategic planning, research and other ...

  • chief trust officer

    A chief trust officer (CTrO) in the IT industry is an executive job title given to the person responsible for building confidence...

  • green IT (green information technology)

    Green IT (green information technology) is the practice of creating and using environmentally sustainable computing resources.

HRSoftware
  • diversity, equity and inclusion (DEI)

    Diversity, equity and inclusion is a term used to describe policies and programs that promote the representation and ...

  • ADP Mobile Solutions

    ADP Mobile Solutions is a self-service mobile app that enables employees to access work records such as pay, schedules, timecards...

  • director of employee engagement

    Director of employee engagement is one of the job titles for a human resources (HR) manager who is responsible for an ...

Customer Experience
  • digital marketing

    Digital marketing is the promotion and marketing of goods and services to consumers through digital channels and electronic ...

  • contact center schedule adherence

    Contact center schedule adherence is a standard metric used in business contact centers to determine whether contact center ...

  • customer retention

    Customer retention is a metric that measures customer loyalty, or an organization's ability to retain customers over time.

Close