Anti-trust law, which is known as competition law outside of the United States, prohibits companies from acting in the manner that reduces competition in markets. The basis of the market economy is that companies aggressively compete to sell to customers. Anti-trust law helps make that happen. Back in 1911, the market for refined oil, such as gasoline, was almost entirely controlled by one company, called Standard Oil, which was owned by John Rockefeller, probably the richest man in the world. It was anti-trust law that provided the legal foundation for breaking up Standard Oil into 33 companies, in order to enhance competition.
- A Year in Publishing: Secret Meetings and the Powerful Threat of Digital Publishing houses are scrambling to determine how to cope with the rise in digital reading. The iPad, the Kindle, the Nook and the Sony Reader, the strongest players in the eReader market, are four of the biggest threats to the print publishing industry. With everyone reading on a screen, how do publishers make a profit? Just this week, on December 18, Pearson Plc’s Penguin Group, a book publisher, reached a settlement with the U.S. Department of Justice in a case in which Penguin was accused of forging a deal with Apple to prevent other ebook sellers from discounting their prices. KWHS explores this bold deal between Apple and book publishers, the resulting anti-trust lawsuit and the future of traditional book publishing.
- Epic Games vs. Apple: What's Next for the App Economy?