Many restrictions on advertising have been held to violate both the Constitution and the antitrust laws.

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The Supreme Court has held that restrictions on advertising can violate the First Amendment's protection of free speech and the Sherman Antitrust Act's prohibition on anticompetitive conduct. For example, restrictions on truthful and non-misleading advertising have been struck down as unconstitutional, and agreements among competitors to restrict advertising have been deemed per se illegal under antitrust law.

Many Restrictions on Advertising Have Been Held to Violate Both