The True Nature behind the Implementation of the Extraterritorial Application of Antitrust Laws in Cartelization Control Policy

ABSTRACT: The US Supreme Court was instrumental in developing a consistent body of case law on export cartels, which has greatly influenced the antitrust landscape of today. Several states have approved the extraterritorial application of US antitrust laws, although it has run across a lot of opposition. The unstable state of emerging nations is a serious problem since many of them lack the ability to structure their economies and safeguard their citizens. A wave of competition laws have been adopted as a result of the passage of competition laws, luring in international money and investors and fostering economic integration. Extraterritorialism may raise expenses rather than considerably lower them, though. Additionally, it undermines nations' confidence in their own judicial system. Another big issue with antitrust laws is obtaining the necessary evidence. In nations with a common law background, like the US, the discovery process is essential for conclusively proving evidence. To promote international cooperation and uphold a respectful view of other nations' sovereignty, the US has developed a number of conventions and accords. However, because nations are envious of their knowledge, these accords frequently have little teeth. Each nation must secure and safeguard information security in order to maintain the reputation of its businesses. KEYWORDS: antitrust law, extraterritoriality, cartelization control, developing countrie