Antitrust laws or more commonly known as competition laws, are laws which prohibit anti-competitive behavior and unfair business practices. These laws declare as illegal certain practices deemed to hurt businesses or consumers or both or those practices which generally violate standards of ethical behavior including monopolization of the market. Government agencies known as competition regulators regulate antitrust laws, and may also be responsible for regulating related laws dealing with consumer protection.

The term “antitrust” find its origin in the U.S. laws dealing with anti-competition regime, which was originally formulated to combat “business trusts”, now more commonly known as `cartels’. ......read more