The least understood law of all time is perhaps the
Anti-Trust law. The law can be most recently seen in the much publicized trial
of “Pharma Bro”. In theory Anti-Trust Laws are designed to protect the consumer
from the predatory instincts of companies. It exists so that fair market
practices and competition exist in the open market.
Antitrust laws come into effect where big organizations
start taking advantage of their monopoly, and start implementing out of this
world prices for the consumers. For example imagine that in the entire state of
California there is only one gas supplier, and he charges silly amounts of
money for a liter of gas. To understand this practice considers the fact that a
company named XYZ is the only one around which offers a product ABC. The said
company however is offering a product which is extremely inferior to its
competitor, and yet is sold at an astronomical price. Practices such as these
can be a breach of the Anti –Trust law in the US. Another segment where the
Anti – Trust law can usually be seen in action is the advertising industry.
Let’s suppose there are two medicines one of them is the market leader when it
comes to a certain disease , the other one is a new entrant which has figured
out a formula which not only replicate the effects of the established drug, but it is also a lot
cheaper than its competitor. However they fail to mention in their advertising
and promotional material that there are certain side effects that are
associated with the new drug. This creates two potential problems. The first
one being that the consumers were misled, with regard to the drugs performance.
The second being that the more established drug had to suffer a major loss in
business, due to the actions of its competitors.
If you had the displeasure of experiencing any
of the situations described above, it might be time to call an Anti-Trust
attorney. The folks at Markham Law come highly recommended, and their expertise
are sure to land you a favorable result.
