Abusive monopolies refer to companies or individuals that dominate a particular market, restrict competition, and exploit consumers or other businesses.
Related terms
Antitrust Laws: These are laws designed to prevent anti-competitive practices like abusive monopolies. They aim to promote fair competition and protect consumers from exploitation.
Sherman Antitrust Act: This legislation passed in 1890 was one of the first major federal antitrust laws enacted in the United States. It prohibits certain business activities that limit competition.
Trusts: Trusts were large corporations during the late 19th and early 20th centuries that controlled multiple companies within an industry, often leading to monopolistic practices.