The Federal Trade Commission in the US has announced the launch of a new Technology Task Force that will look at competition and also monitor technology markets.
This means that companies like Amazon, Google, Apple and other will now be watched by this new task force.
The new task force team will include approximately 17 staff attorneys. Task force members, who will join the task force from divisions within the Bureau, will include attorneys with unique expertise in complex product and service markets and ecosystems, including markets for online advertising, social networking, mobile operating systems and apps, and platform businesses. The task force will also include a Technology Fellow, who will provide important technical assistance and expertise to support the task force’s investigations.
“Technology markets, which are rapidly evolving and touch so many other sectors of the economy, raise distinct challenges for antitrust enforcement,” said Bureau Director Bruce Hoffman. “By centralizing our expertise and attention, the new task force will be able to focus on these markets exclusively – ensuring they are operating pursuant to the antitrust laws, and taking action where they are not.”
It will be interesting to see if the new Technology Task Force is able to make changes with some of these technology companies who have massive monopolies and whether it will increase competition.
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