ABSTRACT
There are two categories of laws dealing with the propriety of business conduct: competition law and unfair competition law. The former deals with conduct that is likely to lead to, or cause the continuation of, a market-dominating monopoly position by one or more firms. This chapter examines the historical evolution of United States (US) antitrust law and its impact on the practice of marketing. In the nineteenth century, the US North American neighbours enacted antimonopoly laws before the US. The Mexican Constitution of 1857 explicitly prohibited monopolies and practices that that affected free participation in the marketplace. During the later 1800s, the US experienced an industrial revolution that led to a dramatic increase in the production of goods. The creation and use of the corporate business form enabled firms to attract a broad range of investor/owners to raise more capital beyond what was possible with partnerships.
