The regulation of business practices to prevent monopolies in the United States primarily stems from the enactment of antitrust laws. Key legislation includes:
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Sherman Antitrust Act of 1890: This was the first federal legislation to prohibit monopolistic practices. It declared illegal all combinations or conspiracies in restraint of trade or commerce and made monopolization a felony.
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Clayton Antitrust Act of 1914: This law built on the Sherman Act and aimed to address specific practices that could lead to anticompetitive behavior, such as exclusive sales contracts and mergers and acquisitions that could substantially lessen competition.
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Federal Trade Commission Act of 1914: This established the Federal Trade Commission (FTC), which has the authority to prevent unfair methods of competition and unfair or deceptive acts or practices in commerce.
These laws and the agencies that enforce them, such as the FTC and the Department of Justice (DOJ), play key roles in regulating business practices to prevent monopolies and promote fair competition in the marketplace.
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