What is the purpose of trust law?

Yet for over 100 years, the antitrust laws have had the same basic objective: to protect the process of competition for the benefit of consumers, making sure there are strong incentives for businesses to operate efficiently, keep prices down, and keep quality up.

What trust means in law?

A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another’s benefit.

Why are monopolies trusts bad?

Monopolies are bad because they control the market in which they do business, meaning that they don’t have any competitors. When a company has no competitors, consumers have no choice but to buy from the monopoly.

What is trust in simple words?

1a : assured reliance on the character, ability, strength, or truth of someone or something. b : one in which confidence is placed. 2a : dependence on something future or contingent : hope. b : reliance on future payment for property (such as merchandise) delivered : credit bought furniture on trust.

What is a trust structure?

In a trust structure, a trustee holds your business for the benefit of others (the beneficiaries). A trustee can be a person or a company, and is responsible for everything in the trust, including income and losses.

How trust is formed?

A trust may be created by: Every person who is competent to contracts: This includes an individual, AOP, HUF, company, etc. If a trust is to be created by on or behalf of a minor, then the permission of a Principal Civil Court of original jurisdiction is required.

Who regulates antitrust?

The FTC’s Bureau of Competition, working in tandem with the Bureau of Economics, enforces the antitrust laws for the benefit of consumers. The Bureau of Competition has developed a variety of resources to help explain its work.

Are trusts illegal?

There may, of course, be illegal trusts; but a trust in and by itself is not illegal: when resorted to for a proper purpose, it has been for centuries enforced by courts of justice, and is, in fact, the creature of a court of equity.

Who invented the trust?

John D. Rockefeller (1839–1937) formed the first trust in 1882 with the establishment of the Standard Oil Company.