ILEC

regulation of business activities which are anticompetitive / restraint of trade

Trusts and monopolies are concentrations of wealth in the hands of a few. Trusts and monopolies are considered harmful restraints of trade which alter normal marketplace competition, and yield undesirable price controls. To prevent trusts from creating restraints on trade or commerce and reducing competition, Congress passed the Sherman Antitrust Act in 1890. The Sherman Act is the main source of antitrust law. The Sherman Antitrust Act declared illegal "every contract, combination…or conspiracy in restraint of trade or commerce" between states or foreign countries. The Clayton Antitrust Act of 1914, amended by the Robinson-Patman Act of 1936, prohibits discrimination among customers through pricing and disallows mergers, acquisitions or takeovers of one firm by another if the effect will "substantially lessen competition."

A cartel is a united group of industrial corporations which band together for the purpose of restricting trade for their mutual benefit. Cartels may agree to control distribution, set prices, reduce competition, and sometimes share technical expertise. Such companies usually are international and cartels generally exist outside of the United States, since U.S. antitrust laws generally prohibit the formation of cartels.

Monopoly is a control or advantage obtained by one entity over the commercial market in a specific area. Monopolization is an offense under federal anti trust law. The two elements of monopolization are (1) the power to fix prices and exclude competitors within the relevant market. (2) the willful acquisition or maintenance of that power as distinguished from growth or development as a consequence of a superior product, business acumen or historical accident.

market with only a small number of market actors - abuse of monopoly power

An oligopoly exists when a few companies dominate an industry or market Prices are set by agreement among the manufacturers rather than by operation of supply and demand mechanism. Oligopoly often leads to collusion among manufacturers. Few companies need to control a significant share of total production or sales, for an oligopoly to exist. In an oligopoly there is likely to be significant barriers to entry to new competitors. Presence of few companies in an industry does not negate existence of competition. In such a market, competition often includes increased expenditure on marketing and advertising in order to win brand loyalty rather than reduction in prices or increase in quality of products.

ruinöse Preisunterbietung

pricing below cost for a temporary period to drive others out.

agreement which forces the buyer to purchase a second product when the buyer purchases the first product.

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