As we have said before on our blog, our nation has a myriad of laws. But as we pointed out back in April in one of our posts, many people aren't familiar with many of our laws. One set of laws you might not know about are federal antitrust laws. That's because these laws generally apply to business owners and companies, although many individuals are currently being prosecuted for rigging bids at foreclosure auctions in various states around the U.S. Many of those being prosecuted had no idea that what they were doing violated the law.
In today's post, we'd like to look at federal antitrust laws, particularly the Sherman Act, and see how it applies in real life. We will do this by looking at the recent ruling against Apple Inc. to see why adhering to these laws is so important.