One of the first antitrust laws was the Sherman Act. This is a U.S. law that was passed in 1890 to prevent trusts (or monopolies) from creating unfair restraints on trade and reducing competition through their power. It outlaws all contracts and conspiracies that unreasonably restrain interstate and foreign trade.

The Clayton Act (a U.S. civil statute carrying no criminal penalties) prohibits mergers or acquisitions that are likely to lessen competition. The Federal Trade Commission Act established the U.S. Federal Trade Commission (or FTC). Also, the U.S. Department of Justice uses other laws to fight illegal activities, including perjury, obstruction of justice, conspiracy, and mail/wire fraud. Most U.S. states also have antitrust laws that closely parallel federal laws.

Internationally, the European Union Competition Law has three main areas: antitrust, mergers, and state aid. The World Trade Organization (WTO) also sets the rules for the global trading system and can mediate disputes. European antitrust policy was developed from the two central rules laid out in the Treaty on the Functioning of the European Union. First, agreements between two or more independent market operators which restrict competition are prohibited by Article 101 of the Treaty. This provision covers both horizontal agreements (between actual or potential competitors operating at the same level of the supply chain) and vertical agreements (between firms operating at different levels, i.e. agreement between a manufacturer and its distributor). Second, Article 102 of the Treaty prohibits firms holding a dominant position on a determined market to abuse that position, for example by charging unfair prices, by limiting production, or by refusing to innovate to the prejudice of consumers.

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