Wiley Act

The Wiley Act, officially known as the Sherman Antitrust Act of 1890, is a U.S. law designed to promote fair competition and prevent monopolies and unfair business practices. It prohibits companies from engaging in activities that restrain trade or create monopolies, such as collusion or forming trusts to dominate a market. By doing so, it aims to protect consumers and ensure a competitive economy where businesses can thrive based on merit rather than illegal consolidation. The law has been foundational in antitrust regulation, supporting free markets and preventing the abuse of economic power.