Antitrust law, or competition law, is the law that regulates business practices to promote fair competition and consumer protection. Most people know antitrust to be an area of law that is complex and fundamental to market stability. Less apparent are its connections to the historical, political, and cultural aspects of the markets it regulates. Unsurprisingly, political systems have developed their own versions of antitrust law arising from their own histories and according to their own needs. The United States and the European Union each possess one of the largest markets in the world today. Because globalization has made these markets more integrated and interdependent, it is interesting that important differences exist between US and EU antitrust laws. For multinational companies, navigating these differences is a key challenge to regulatory compliance and success.
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