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 ?
(165) In reconciling baseball's antitrust exemption with the antitrust laws that favor competition, the key distinction under this standard is whether the situation at issue in a particular case involves "a distinct and separate industry" from baseball.
Progressive antitrust reformers have mainly wanted to see antitrust laws enforced more vigorously against big business.
This was found to be in violation of the antitrust laws in 1954.
costly, [as] they chill the very conduct the antitrust laws are designed
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.
Popofsky, who states that "the unifying principle is that each Section 2 legal test reflects a specific expression of the same underlying 'rule of reason,'" (5) and that "Section 2's rule of reason, so understood, asks: For the type of conduct at issue, which legal test likely maximizes consumer welfare over the long run?" (6) I then emphasize that this Article does not intend to take a side on which test to apply to each practice that violates antitrust law. It is only focused on the need to recognize that general per se rules are to be avoided in the first place.
The statement also makes clear that FTC will" rely on the accumulated knowledge and experience embedded within the 'rule of reason' framework developed under the antitrust laws over the past 125 years--a framework well understood by courts, competition agencies, the business community, and practitioners."The Commission goes on to note that these principles" also retain for the Commission the flexibility to apply its authority in a manner similar to the case-by-case development of the other antitrust laws."
Lastly, it will explain the role of antitrust laws and the relevant antitrust laws that could benefit or hinder space exploration.
The NC Board argued it was not subject to antitrust laws, but the FTC and the courts disagreed, holding that the NC Board unlawfully stifled competition.
Actavis, Inc., the Supreme Court considered whether Solvay's reverse settlement payment to Actavis violated antitrust laws by going beyond the scope of the exclusionary protections granted by the patent.
The Sherman Act, by its terms, applies only to "trade or commerce." (49) The Clayton Act generally applies to "commerce." (50) Throughout the century-plus span of its history, antitrust jurisprudence has repeatedly recognized that Congress, in so drafting the antitrust laws, intended to cut a wide path.
Cahn notes certain antitrust laws, such as the U.S.