Antitrust refers to a body of laws and regulations designed to promote competition and prevent monopolistic practices in the marketplace. These laws aim to protect consumers from anti-competitive behavior by businesses, such as price-fixing, market allocation, and monopolization. Antitrust regulations seek to ensure that companies compete fairly, which can lead to better prices, quality, and innovation for consumers. Enforcement of antitrust laws is typically carried out by government agencies, such as the Federal Trade Commission (FTC) and the Department of Justice (DOJ) in the United States. The concept encompasses various legal actions and policies intended to prevent unfair business practices and to dismantle monopolies that stifle competition. It plays a crucial role in maintaining a healthy economic environment where multiple firms can compete, thereby benefiting consumers and the overall economy.
A cloud computing giant has been accused by a major competitor of engaging in unfair business practices. The competitor, in a complaint lodged with the European Commission, alleges that the…