Antitrust refers to laws and regulations designed to promote fair competition and prevent monopolies in the marketplace. These laws aim to protect consumers by ensuring that no single company can dominate an industry, which can lead to higher prices and fewer choices. By encouraging competition, antitrust laws help foster innovation and improve the quality of products and services. In the United States, key antitrust laws include the Sherman Act and the Clayton Act. These laws empower government agencies, like the Federal Trade Commission, to investigate and take action against companies that engage in unfair practices, such as price-fixing or collusion, ensuring a level playing field for all businesses.