A government agency that, along with the Justice Department, administers antitrust laws. The law setting up the FTC was passed in 1914 and outlaws “unfair methods of competition,” however, it doesn’t define unfair. In addition to antitrust laws, the FTC enforces consumer protection laws in order to ensure that the U.S. markets function competitively and are vigorous, efficient, and free of undue restrictions. Under the Hart-Scott Rodino Act that was passed in 1976, both the Federal Trade Commission and the Department of Justice review mergers agreements for deals over $50 million in order to prevent potential anti-competitive harm to individuals and businesses.