<Li> banning abusive behavior by a firm dominating a market, or anti-competitive practices that tend to lead to such a dominant position . Practices controlled in this way may include predatory pricing, tying, price gouging, refusal to deal, and many others . </Li> <Li> supervising the mergers and acquisitions of large corporations, including some joint ventures . Transactions that are considered to threaten the competitive process can be prohibited altogether, or approved subject to "remedies" such as an obligation to divest part of the merged business or to offer licenses or access to facilities to enable other businesses to continue competing . </Li> <P> Substance and practice of competition law varies from jurisdiction to jurisdiction . Protecting the interests of consumers (consumer welfare) and ensuring that entrepreneurs have an opportunity to compete in the market economy are often treated as important objectives . Competition law is closely connected with law on deregulation of access to markets, state aids and subsidies, the privatization of state owned assets and the establishment of independent sector regulators, among other market - oriented supply - side policies . In recent decades, competition law has been viewed as a way to provide better public services . Robert Bork argued that competition laws can produce adverse effects when they reduce competition by protecting inefficient competitors and when costs of legal intervention are greater than benefits for the consumers . </P> <P> An early example was enacted during the Roman Republic around 50 BC . To protect the grain trade, heavy fines were imposed on anyone directly, deliberately, and insidiously stopping supply ships . Under Diocletian in 301 A.D., an edict imposed the death penalty for anyone violating a tariff system, for example by buying up, concealing, or contriving the scarcity of everyday goods . More legislation came under the constitution of Zeno of 483 A.D., which can be traced into Florentine municipal laws of 1322 and 1325 . This provided for confiscation of property and banishment for any trade combination or joint action of monopolies private or granted by the Emperor . Zeno rescinded all previously granted exclusive rights . Justinian I subsequently introduced legislation to pay officials to manage state monopolies . </P>

What is the objective of the anti trust law on market competition