What are monopolies, and how do we identify monopolistic practices? To whom do you report this type of behavior?
S.T. LOUIS, MO (STL.News): We are not attorneys, nor do we give legal advice, but here is some basic knowledge about monopolies and monopolistic practices. It appears to us that many larger companies do business, not realizing specific strategies cross into these categories.
What is monopolistic practices?
If you refer to a business or its practices as monopolistic, you mean that it tries to control as much of an industry as it can and does not allow fair competition.
America was founded on the principle of free trade and freedom of competition. Therefore, the U.S. Government has assumed the responsibility of preventing the formation of monopolies and curbing unfair practices of large corporations.
Who regulates monopolies?
The Antitrust Division of the U.S. Department of Justice enforces federal antitrust and competition laws. These laws prohibit anticompetitive conduct and mergers that deprive American consumers, taxpayers, and workers of the benefits of competition.
We have provided a summary to help business people identify legal violations or avoid them when they are identified.
Businesses are encouraged to consult their attorney regarding their business practices to ensure they comply with the law. It is easy to violate laws that you don’t understand.
We will be releasing a report that discloses industries that we have investigated and witnessed this type of behavior as if it is regular business.
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