The Law Dictionary for Everyone
The Sherman Antitrust Act was established as a way to keep competition fair in the business world. It did this by making it a crime to monopolize any part of the trade or commerce systems. The term “antitrust” refers to the laws that are put in place to protect commerce from unfair business practices that could limit competition and, as […]
Read moreThe term monopoly refers to a situation in which a single person or organization is the only supplier of a particular commodity or service. In order for a monopoly to exist, there must be a lack of competition in the production of the good or offering of the service, as well as a lack of legitimate alternatives to the product […]
Read moreAlso referred to as “undercutting,” predatory pricing refers to a strategy undertaken by a company intended to drive competition out of business by offering its goods or services at a price far below the market rate. Even those who many be considering opening a new competing business in the area, if unable to meet and sustain equally low prices, often […]
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