Competition Law is a set of regulations designed to promote fair competition in the marketplace. It aims to prevent monopolies and anti-competitive practices, ensuring that businesses operate fairly and consumers have choices. By regulating mergers, price-fixing, and other unfair practices, competition law helps maintain a level playing field for all companies. These laws are enforced by government agencies, such as the Federal Trade Commission in the United States or the European Commission in the European Union. Violations can lead to penalties, including fines and restrictions on business operations, which serve to deter companies from engaging in unfair practices.