Is it illegal to own a monopoly?

[loudstage657]

Monopolies are generally discouraged because when multiple companies fight for a market share they create competition. Competition creates lower prices and better products. If there was just one company in one area of commerce that company could A) buy up any competitors because of its sheer size and power and B) dictate the price to unfair levels.

Nowadays monopolies are broken up into smaller companies, Bell is a good example of a recent monopoly. It's not necessarily illegal like most laws are, no one goes to jail or anything, the company just can't be a monopoly anymore.