Over the years, consumer protection laws and regulations have undergone a drastic transformation in a way that earlier owing to a closed economy it was only the Government which was the sole player in that industry. So the chances of lodging a complaint against the Government arose almost never. However, with the private players coming in and making the competition fierce, the need to have strong and robust consumer protection laws was felt. In light of all these factors, consumer protection legal services developed to tackle the anti-competitive elements in the market.
These consumer protection laws primarily dealt with issues pertaining to monopoly markets, oligopoly markets, cartels indulging in price fixing, allocation of territories etc, tie-in arrangements, re-sale price maintenance, bid rigging or collusive bidding, exclusive contracts and so on.
Thus, these consumer protection legal services take into account these irregularities and treat them by punishing the anti-competitive element thereby resulting in regulating the market.
In such a scenario, the job of consumer protection legal professionals is one entrusted with lot of responsibilities coupled with the requirement of having a deep and sound knowledge into the functioning of the markets.