The Department of Justice has brought a lawsuit against Apple (AAPL) over alleged monopolistic practices concerning its Apple iPhone. University of Chicago Professor of Law Randy Picker joins Yahoo Finance Live to provide insights into Apple's legal battle. Picker highlights that the Department of Justice will face "two critical challenges" in its attempted suit against Apple: first, defining "what's the market," which in this case is the smartphone market, and second, establishing what specific actions taken by Apple with its monopoly power are deemed "problematic" or illegal. The center of the matter will be determining what "sharing obligations" Apple has regarding its products. Picker draws a parallel to Europe's legislation, which has mandated changes to the iPhone, granting users choices for browsers, virtual assistants, and search engines. He notes that while the United States had considered legislation previously, it did not come to fruition. However, the professor suggests that such a legislative approach would be "a cleaner" solution, as a case of this magnitude could potentially take three to five years to navigate through the court system. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

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