The United States has several laws that are intended to further fair, balanced, and competitive business practices. These laws are typically effective as control measures to ensure fair business practices are followed by all. All U.S. law roots come from the Constitution and the Bill of Rights however these laws are ever-changing because of evolving social standards. (Courtland, Bovee and Thill, 2013, p. A-1)
The United States has various laws for the purpose of furthering fair, balanced, and competitive business practices. I believe these laws are effective but they are in place to protect businesses, organizations and not to mention the consumers. The laws are in place really to give each of us a fighting chance. Being I am along with the rest of society a consumer it seems most fitting to touch base on the antitrust law that is set in place to protect us. Most Americans do not realize antitrust laws affect our daily lives. The point of antitrust laws is to ensure that we the people have the benefit of competitive prices and high quality goods and services. The antitrust laws accomplish these goals by promoting and fostering competition in the marketplace and preventing anticompetitive mergers and business practices.
While many businesses will do almost anything to gain an edge on the competition, it is important to understand antitrust laws so that you do not risk your business's integrity while gaining customers. Antitrust laws make it illegal to conspire to restrain trade or commerce in any marketplace, regardless of size. Violations of antitrust laws are conspiring to fix market prices, price discrimination, conspiring to boycott and monopolization to name a few. Discussing prices with competitors, even if it affects a small marketplace, may be construed as a violation of antitrust laws. Using dominant industry power to secure favorable product prices from buyers, even though such prices are unavailable to weaker companies in the same industry, is generally a violation of antitrust laws. Conversations with other businesses regarding the potential boycott of another competitor or supplier may violate antitrust laws. Preserving a monopoly position through the acquisition of competitors, the exclusion of competitors to the given market, or the control of market prices are all in violation of antitrust laws.
Businesses must engage in ethical business practices which include abiding by government laws in order to be more successful and profitable. Our book states that there is a great amount of…