Under U.S. law, it is illegal for a company to take anti-competitive actions against another company in order to monopolize or attempt to monopolize a market. Monopolies are heavily discouraged and regulated in the United States because they often lead to high prices that then burden consumers. Antitrust may also occur Through horizontal and/or vertical boycotts between the manufacturer and a buyer company. Competition is protected through antitrust law, which prevents companies from purposely taking action to shut out other companies from a given market.
When a company believes that they are being victimized by anti-competitive tactics, they may have legal grounds to file a lawsuit against the competition. Likewise, consumers may pool together to file a class-action lawsuit against an offending company.
Unfair competition is illegal in the United States, and a lawsuit makes it publicly known that one company is taking anti-competitive action against another. Consumers involved in the lawsuit may also be compensated for their efforts.
Without appropriate competition, a company is able to fix prices and demand as high a price as it wants from consumers. Under a monopoly prices may skyrocket, giving consumers fewer choices for a much higher price. Competition is healthy and forces companies to compete for the favor of consumers and also spurs better quality products and ongoing development. If you believe that a company has been using anti-competitive tactics against other companies in an industry, consider consulting with an antitrust lawsuit lawyer about taking legal action through a class-action lawsuit.
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Unlawful monopolies can hurt pricing, consumers, and the future of an industry by reducing competition in the market. To learn more about taking action against anti-competitive companies and filing an antitrust lawsuit, contact the Burk Law Firm, P.C. today by calling 512-306-9828.