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The Sherman Antitrust Act of 1890 [1] (26 Stat. 209, 15 U.S.C. §§ 1–7) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce and consequently prohibits unfair monopolies.
The Clayton Antitrust Act of 1914 (Pub. L. 63–212, 38 Stat. 730, enacted October 15, 1914, codified at 15 U.S.C. §§ 12–27, 29 U.S.C. §§ 52–53), is a part of United States antitrust law with the goal of adding further substance to the U.S. antitrust law regime; the Clayton Act seeks to prevent anticompetitive practices in their incipiency.
The Supreme Court calls the Sherman Antitrust Act a "charter of freedom", designed to protect free enterprise in America. [75] One view of the statutory purpose, urged for example by Justice Douglas, was that the goal was not only to protect consumers, but at least as importantly to prohibit the use of power to control the marketplace. [76]
The lawsuit alleges the companies’ actions violated the Clayton Act, which prohibits any acquisition of stock where “the effect of such acquisition may be substantially to lessen competition ...
Standard Oil (Refinery No. 1 in Cleveland, Ohio, pictured) was a major company broken up under United States antitrust laws.. The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history.
Certain tying arrangements are illegal in the United States under both the Sherman Antitrust Act, [2] and Section 3 of the Clayton Act. [3] A tying arrangement is defined as "an agreement by a party to sell one product but only on the condition that the buyer also purchases a different (or tied) product, or at least agrees he will not purchase ...
That led the AFL to initiate an aggressive campaign to convince Congress to address labor concerns about the Sherman Act in the reform of antitrust laws. [5] The push culminated with the passage of the Clayton Antitrust Act of 1914, which provided that "the labor of a human being is not a commodity or an article of commerce." Section 20 of the ...
The rule of reason is a legal doctrine used to interpret the Sherman Antitrust Act, one of the cornerstones of United States antitrust law.While some actions like price-fixing are considered illegal per se, other actions, such as possession of a monopoly, must be analyzed under the rule of reason and are only considered illegal when their effect is to unreasonably restrain trade.