Which law provides the Federal Trade Commission with authority to address unfair competition methods?

The Federal Trade Commission Act is the law that specifically provides the Federal Trade Commission (FTC) with the authority to address unfair methods of competition and deceptive acts or practices in commerce. Enacted in 1914, this act established the FTC as a regulatory agency tasked with preventing anti-competitive business practices and consumer protection issues.

The significance of this act lies in its broad language, which allows the FTC to take action against a wide range of unfair practices that can harm consumers or competition in the marketplace. The act empowers the FTC to take investigative actions and enforce regulations aimed at maintaining fair competition and protecting consumers from misleading advertisements and other deceptive practices.

Other acts, such as the Sherman Act, Robinson-Patman Act, and Clayton Act, focus on specific types of monopolistic practices and unfair pricing strategies, but it is the Federal Trade Commission Act that grants the FTC its comprehensive scope of authority regarding unfair competition methods and consumer protection.