Antitrust laws are regulations that encourage competition by limiting the market power of any particular firm. They exist as both federal and state statutes, and their objective is to protect and promote competition within all sectors of the economy. The three key federal statutes in Antitrust Law are the Sherman Act Section 1, which describes and prohibits specific conduct deemed anticompetitive, the Sherman Act Section 2, which provides a means to stop already occurring anticompetitive practices, and the Clayton Act, which regulates mergers and acquisitions in combination with the guidelines published by the Department of Justice and the Federal Trade Commission. Violating antitrust laws carry both criminal and civil penalties, though in practice, civil penalties are more common. The antitrust laws proscribe unlawful mergers and business practices in general terms, leaving courts to decide which ones are illegal based on the facts of each case. The antitrust laws are enforced by the Federal Trade Commission, the United States Department of Justice Antitrust Division, and private parties who have been harmed by an antitrust violation.