antitrust laws


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antitrust laws

n. acts adopted by Congress to outlaw or restrict business practices considered to be monopolistic or which restrain interstate commerce. The Sherman Antitrust Act of 1890 declared illegal "every contract, combination....or conspiracy in restraint of trade or commerce" between states or foreign countries. The Clayton Antitrust Act of 1914, amended by the Robinson-Patman Act of 1936, prohibits discrimination among customers through pricing and disallows mergers, acquisitions or takeovers of one firm by another if the effect will "substantially lessen competition." Interstate commerce includes commerce within a state which affects the flow of that commerce, thus making it pretty broad. There are also some state laws against restraint of trade. The Antitrust Division of the U. S. Department of Justice enforces for the federal government, but private lawsuits to halt antitrust activities have become increasingly popular, particularly since attorneys fees are awarded to the winning party. This is a legal specialty which has kept some industries relatively honest and made some lawyers wealthy. (See: restraint of trade, price fixing)

References in periodicals archive ?
In addition, merely inviting a competitor to enter into an illegal agreement may violate the antitrust laws, even if the invitation does not result in an agreement to fix wages or otherwise limit competition.
Notwithstanding these country examples, which indicate a positive association between a capitalist economic system and antitrust laws, there exist arguments that both support and oppose antitrust laws for a capitalist economy.
This year, the chosen topic merges the worlds of antitrust law and agriculture, bringing together legal scholars and practitioners from both fields to discuss "Antitrust and Competition in America's Heartland.
6) Although the Court grounded its decision in narrow language regarding the type of duty to deal, (7) it also identified several factors that, together, suggested that the antitrust laws were unnecessarily duplicative of state and federal regulation.
And given the uncertainty in this area of the law, and the severe monetary penalties for violations, it behooves franchisors to consult an attorney who specializes in antitrust laws prior to implementing a resale pricing policy.
Last week's American Needle ruling reinforced the decades-old notion that sports leagues cannot escape antitrust law.
Don't think that because you aren't a multinational company that you are immune from the antitrust laws.
Federal and state antitrust laws likely touch on a variety of aspects of your company's business.
Addressing the Commissioners, Congressman Sensenbrenner called for the Commission to study the following areas of antitrust policy concern: how the antitrust laws operate in the modern, information-driven economy; the intersection between antitrust law and intellectual property law; conflicts between U.
Part I of this Article will critique the arguments for substantive harmonization of antitrust laws.
However, the remnants of such legislation as BHCA make banking subject to greater limitations than investment banks and insurance companies, which are subject to lesser tying standards under the general antitrust laws.
CONCLUSION: This book provides the reader with a detailed and extensive insight in to antitrust law and its enforcement.