Love it or hate it, many of us have strong childhood memories of the board game Monopoly. Some love the competition, while others remember games ending in tears, scattered pieces, and an overturned board. The game encourages ruthlessness in snatching up as much property on the board as possible in order to squeeze every cent out of other players. However, Monopoly is a prime example of why antitrust laws exist in the first place. The balance of fairness goes out the window quite quickly as one player rises to the top. It’s no longer a competition, but just a matter of time until the other players go broke.
That’s where antitrust lawyers come into the picture. Antitrust lawyers specialize in state and federal antitrust laws and work to uphold them. Keep reading to learn more about what antitrust laws are, what antitrust lawyers do, and what you can do if you find yourself in an antitrust dispute.
What is Antitrust Law?
Antitrust laws exist to encourage competition and prevent monopolies from forming. Companies merge or acquire others, which can grow their market share. The problem starts when competitors engage in unfair practices that are meant to edge out all other competitors. After several acquisitions and mergers, a company can gain too much power. It might start price fixing, a practice between competitors that sets a product or service at a specific price.
Price fixing is a violation of antitrust laws because it discourages organic competition. Other examples of antitrust violations include bid rigging, market allocation schemes, and other illegal anti-competitive behavior.
However, antitrust laws don’t exist simply to keep things “fair” among competitors. Monopolies stifle creativity and innovation, which leads to worse services or products. It can also hurt the economy. Once a monopoly forms, prices can skyrocket while supply lowers. There’s no incentive to make a high-quality product or service if a company is the only one providing that product or service. It hurts workers as well; those who work in a specific industry can be forced to stay in a job that doesn’t treat them well or change careers.
How Can an Antitrust Lawyer Help With Violations?
Essentially, an antitrust lawyer works to uphold antitrust laws to encourage fair competition. They identify potential violations of antitrust laws and work with clients to ensure all competitors are operating within the law. An antitrust lawyer ensures that customers can get the best product or service for their money by allowing healthy competition to thrive. That can include breaking up monopolies, preventing them from forming, and stopping other antitrust practices.
Antitrust lawyers are familiar with the complexities of antitrust laws such as the Sherman Antitrust Act and the Clayton Act. They ensure that their clients as well as taxpayers and consumers enjoy the benefits of competition.
Do You Need an Antitrust Lawyer in Wisconsin?
If you’re a business undergoing a merger or suspect a competitor is violating an antitrust law, an antitrust attorney will fight for your rights. At Atolles Law, S.C., our commercial litigation attorneys have the legal knowledge and experience to best represent your interests. As one of Wisconsin’s top commercial litigation firms, we have a proven track record of assisting our clients with our antitrust law expertise. Contact us online or by phone to schedule a consultation and learn how we can help.