The Bell System was a system of telecommunication companies, led by the Bell Telephone Company and later by AT&T that dominated the telephone services industry in North America for over 100 years from its creation in 1877 until its antitrust breakup in 1983. The system of companies was often colloquially called Ma Bell, as it held a vertical monopoly over telecommunication products and services in most areas of the United States and Canada. At the time of the breakup of the Bell System in the early 1980s, it had assets of $150 billion and employed over one million people.