Antitrust laws are regulations that promote competition in the marketplace by prohibiting monopolies and business practices that hinder competition. These laws are aimed at protecting consumers from industries that curb competition by using unfair tactics that dominate the market. Alternative words for antitrust law are competition law and trade practices law. Competition law is a unique field of law that regulates the behavior of businesses and individuals in the market. Trade practice law is another term that is used to refer to the same laws, as it deals with the practices of various trades and businesses that affect competition principles. The importance of antitrust laws cannot be overemphasized as they protect consumers, and ensure a level playing field for businesses.