Fair competition is the cornerstone of American capitalism. When it is upheld, businesses are able to compete against one another on a level playing field so that each has an equal opportunity to succeed and make a profit. Sometimes, however, businesses bend or break this all-important condition to unfairly skew the market in their favor. When they do so, they not only violate federal antitrust laws but also violate the freedoms and trust of American consumers.
Antitrust Legislation and Fair Competition
American companies are required belviq class action to adhere to federal statutes that prevent unfair competition. These laws were put into place to protect consumer choice and to prevent the formation of monopolies and cartels that unjustly take advantage of the free market. The ideal of free competition has long been protected in the United States through antitrust legislation. The first federal antitrust law to be passed in the United States was the Sherman Antitrust Act, passed over 115 years ago in 1892, and is still considered to be one of the key statutes that protects consumers from unfair business practices.
Types of Unfair Competition
A company can unjustly take advantage of the market in a variety of ways. When a business is suspected of unfair competition, consumers can initiate a class-action lawsuit against the company to hold it accountable for any harm caused to consumers. Some of the types of unfair competition lawsuits that are often litigated in the U.S. include:
Americans have a legal right to expose and fight back against unlawful business actions through class-action lawsuits. If you suspect a company of unlawfully attempting to dominate the market, consider consulting with an unfair competition antitrust lawyer to discuss your legal rights and options.