The Sherman Act is a landmark federal statute in the United States, enacted in 1890, aimed at promoting fair competition and preventing monopolies. It prohibits business activities that restrain trade or commerce, making it illegal for companies to engage in practices that limit competition, such as price-fixing or market allocation. The act is named after Senator John Sherman, who was a key advocate for antitrust legislation. Enforcement of the Sherman Act is primarily handled by the Federal Trade Commission and the Department of Justice, which investigate and prosecute violations to ensure a competitive marketplace.