Gibbons v. Ogden declared that a single company could not have a on an industry

Gibbons vs. Ogden is a land mark case in which supreme court declared that free trade can be practiced and it was unconstitutional for the state to enact laws that restricted the interstate trade.

Explanation:

Gibbons achieved the monopoly of steam ferry on the waters of Mississippi but his adversary was also having the monopolistic rights to operate his steam boats on the shores of United states. In spite of continuous fines, Gibbons was operating his steam boat and this bothered his adversary Ogden.

The case was taken up by the supreme court and a land mark ruling was rolled out by the supreme court judge stating the necessity of free trade and state laws were unconstitutional that restrained the free interstate trade and commerce. After which, Americans understood the significance of Laissez faire and also Sherman anti trust laws were incorporated which restricted monopolies and promoted free trade.