Competition law, also known as antitrust law, is a body of laws designed to promote fair competition for the benefit of consumers. The main purpose of competition law is to prevent businesses from engaging in practices that could harm consumers or stifle competition.

There are two types of competition law: civil and criminal. Civil competition law deals with private disputes between businesses, while criminal competition law deals with behavior that is illegal under public law.

Competition law is enforced by government agencies at the federal and state level in the United States. The Federal Trade Commission (FTC) is the primary enforcement agency at the federal level, while each state has its own agency tasked with enforcing competition laws.

Competition laws are designed to keep markets free and fair by preventing businesses from engaging in practices that could harm consumers or stifle competition. Some examples of prohibited practices include price fixing, bid rigging, and monopolization.

Violations of competition law can result in civil or criminal penalties. Civil penalties can include fines, injunctions, and orders to disgorge ill-gotten gains. Criminal penalties can include fines and imprisonment.

Competition law is an important tool for protecting consumers and promoting fair competition. Businesses should be aware of the laws and avoid practices that could violate them.