Antitrust laws were established to promote vigorous competition but also to protect the consumer from mergers and unfair business practices. The first antitrust law passed by Congress is called the Sherman Act and is a “comprehensive charter of economic freedom aimed at preserving free and unimpeded competition as the rule of commerce” according to www.FTC.gov. Later in 1914, Congress passed two more laws, one creating the Federal Trade Commission Act (FTCA) and then the Clayton Act, which now create the three major federal antitrust laws still active today. Although they have changed over the last hundred years, they still have the same concept: “to protect the process of competition for the benefit of consumers by ensuring that there are strong incentives for businesses to operate efficiently, keep prices low, and keep quality high.” ” as stated by the FTC.gov website about antitrust laws. The first of the three major federal antitrust laws is the Sherman Act, created in 1980. This act will not allow competitors to set a fixed price on a good or allow a company becomes a monopoly Violation of the Sherman Act can be punished normally as a criminal offense with fines of up to $350,000 for individuals, up to $10 million for businesses, and up to $100 million for corporations for each offense prison that can be served by each with the individual being sentenced to up to three years in prison and a company up to ten years in prison per felony when the Sherman Act is violated. The Clayton Act which was only passed in 34 years later, in 1914, there are no criminal sanctions like the Sherman Act. This act will not allow a merger to occur that will lessen the competition of a product... middle of paper... there will be consequences. Works Cited United States Federal Trade Commission: A Guide to the Antitrust Laws. Retrieved from: http://www.ftc.gov/tips-advice/competition-guidance/guide-antitrust-lawsU.S. Department of Justice: Antitrust Enforcement and the Consumer. http://www.justice.gov/atr/public/div_stats/antitrust-enfor-consumer.pdf Retrieved 05/27/2014Katz, Mitchell J. (2013). “Certegy Check Services to Pay $3.5 Million for Alleged Violations of Fair Credit Reporting Act and Furnisher Rule” http://www.ftc.gov/news-events/press-releases/2013/08/certegy-check- services-pay -35-million-alleged-violations-right: Retrieved 05/20/2014Katz, Mitchell J. (2014). “TeleCheck to Pay $3.5 Million for Fair Credit Reporting Act Violations” http://www.ftc.gov/news-events/press-releases/2014/01/telecheck-pay-35-million-fair-credit -reporting-act -violations Retrieved on 5/20/2014