The Federal Trade Commission Act - 931 Words

In 1890, the United States Congress passed the first Anti-Trust Law, called the Sherman Act, in an attempt to combat anti trusts and as a â€Å"comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade.† (The Antitrust Laws). Twenty four years later in 1914, Congress passed two more Anti-Trust Laws: the Federal Trade Commission Act, which created the Federal Trade Commission whose aim is to protect American consumers, and the Clayton act, which fills in any loopholes in the Sherman Act. Ultimately, these three Anti Trust Acts regulate three core problems within the market: restricting the creation of cartels, restricting the â€Å"mergers and acquisitions of organizations which could substantially lessen competition†, and prohibit the creation of monopolies in the market (â€Å"The Antitrust Laws†). The history of the antitrust laws date back to the late nineteenth century, following the end of the Civil War. This time, known as the Gilded Era, began when entrepreneurs began searching for big profits from their business ideas. Over time, the small business ideas turned into massive corporations. The creation of new ideas and a radical shift towards industrialism led to the Industrial Revolution. Amongst the most powerful corporations during this time were the four that still exist today: John D Rockefeller’s Standard Oil Company, Andrew Carnegie’s Carnegie Steel, Cornelius Vanderbilt’s New York Central Railroad System, and J.P.Show MoreRelatedThe Federal Trade Commission Act922 Words   |  4 PagesALJ On November 13, 2015, A Federal Trade Commission’s (FTC) Chief Administrative Law Judge (ALJ) held that LabMD did not violate Section 5(a)of the Federal Trade Commission Act (FTC Act) by failing to provide reasonable security for personal information o n computer networks. This is the first decision that limits the authority of FTC to regulate businesses that fail to appropriately safeguard their consumers’ electronic personal information. FTC first became involved with consumer privacy issuesRead MoreTreating Information Privacy Flaws Of The Federal Trade Commission Act Essay874 Words   |  4 PagesDEFICIENCIES IN CYBERSPACE Introduction Scholars are divided on the fundamental question of the Federal Trade Commission’s (FTC) adjudicative capacity under the FTC Act. The FTC uses a reasonableness standard and considers each company’s data security practices on a case-by-case basis. For more than a decade, the FTC’s enforcement of data security actions invoked under  §5 of the Federal Trade Commission Act (FTC Act) resulted in consent decrees and settlements, subsequently scrutinized by practitioners asRead MoreFederal Trade Commission and the Act4078 Words   |  17 Pages| Federal Trade Commission and the Act | Prepared for ASCM630.9040, Professor Charles Carey | Candy Mott-Harris 3/26/2012 | Contents ABSTRACT 2 HISTORY OF THE FEDERAL TRADE COMMISSION ACT 2 FALSE AND DECEPTIVE ADVERTISING 5 BAIT AND SWITCH ADVERTISING/TACTICS 8 CONSUMER FRAUD 10 IDENTIFYING, VERIFYING AND PREVENTING DECEPTION 12 CLOSING STATEMENTS ABOUT THE FEDERAL TRADE COMMISSION 13 BIBLIOGRAPHY 14 ABSTRACT The paper will serve as a historical background overviewRead MoreThe Antitrust Laws Of The Federal Trade Commission Act1221 Words   |  5 PagesSocio – Political Environment a) Antitrust Laws The first antitrust law passed by Congress was the Sherman Act, in 1890. In 1914, Congress passed two other antitrust laws: The Federal Trade Commission Act, which created the Federal Trade Commission, and the Clayton Act. With some revisions, these are the most important federal antitrust laws still in effect today. Section 7 of the Clayton Act prohibits mergers and acquisitions when the effect may be substantially to lessen competition, or to tendRead MoreThe Case Of Ftc V. Wyndham Worldwide Corp1403 Words   |  6 Pagesof their identity protection and have peace of mind when ordering online. So when online retailers do not take the proper precautions for safeguarding their customer’s confidential information, how should they be held accountable? Does the Federal Trade Commission have the authority to reprimand companies that expose themselves to a threatening data breach? These are the principle questions that are being considered in the case of FTC v. Wyndham Worldwide Corp. This case has greatly impacted the futureRead MoreConsumer Harm : High Bar931 Words   |  4 PagesConsumer Harm: High Bar in FTC Data Security Claims ALJ On November 13, 2015, A Federal Trade Commission’s (FTC) Chief Administrative Law Judge (ALJ) held that LabMD did not violate Section 5(a)of the Federal Trade Commission Act (FTC Act) by failing to provide reasonable security for personal information on computer networks. This is the first decision that limits the authority of FTC to regulate businesses that fail to appropriately safeguard their consumers’ electronic personal information. Read MoreAdvertising Is Protected By The First Amendment Of The United States Constitution1245 Words   |  5 Pagesprotected by the First Amendment of the United States constitution. Conversely, advertising requires less control from the First Amendment, but requires the majority of control from the government and most importantly, the Federal Trade Commission. The Federal Trade Commission controls the content and images that are being advertised to consumers that seem to be exaggerated or just plain over the top. With that being said, false advertising is one of the biggest rising issues amongst many companiesRead MoreAre United States Business Laws Effective at Promoting Fair Business Practices762 Words   |  4 Pagessell, trade and perform business transactions daily within a multitude of industries and professions. In order to preserve the trust and integrity of our financial systems, it is imperative that the United States implement, regulate, and enforce business practices to remain relevant and effective within the constantly changing global economic marketplace. The United States has a long history of ensuring fair and balanced business practices through legislation. The Interstate Commerce Act of 1887Read MoreFederal Trade Commission640 Words   |  3 PagesArtemiy Andreev Ms.Brown February 15, 2016 The Federal Trade Commission Research The Federal trade commission or called the FTC was created in 1914. The Federal Trade Commission Act is the act that started this commission and its purpose was to prevent unfair methods of competition in commerce as a part of the battle to â€Å"bust the trusts.† They also did this act to enhance the informed consumer choice and public understanding of this competitive process; and another reason was to accomplishRead MoreDeceptive Advertising1524 Words   |  7 Pagesare targeted by deceptive advertising it is just a matter of how consumer savvy you are. Almost all companies are guilty of this crime, including Phillip Morris Tobacco, weight loss programs and even grocery stores just to name a few. Under both Federal and State law, an ad is unlawful if it tends to mislead or deceive even if it doesnt actually fool anyone. If your ad is deceptive youll face legal problems whether you intended to mislead the customer or not. What counts is the overall impression