Sherman Antitrust Act

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Sherman Antitrust Act

The first legislation passed in the United States limiting trusts and monopolies. The Act prohibits agreements and collusion restricting trade, without providing many specifics. The Act was largely unenforced against the organizations it was intended to curtail. Indeed, the Act was invoked early on to restrict organized labor more than any other group. As a result, Congress passed the Clayton Act in 1914 to clarify American antitrust law. The Sherman Act has been criticized by many, notably Ayn Rand and her followers, for unfairly and inefficiently restricting the Invisible Hand of the market.

Sherman Antitrust Act

An 1890 federal antitrust law intended to control or prohibit monopolies by forbidding certain practices that restrain competition. In the early 1900s, the U.S. Supreme Court ruled that the Act applied only to unreasonable restraints of trade and thus could be used only against blatant cases of monopoly.

Sherman Antitrust Act

One of the antitrust laws designed to encourage competition and discourage monopolies.

References in periodicals archive ?
Plaintiffs claim that Defendants' actions violated the Sherman Antitrust Act, a federal law that prohibits any agreement that unreasonably restrains competition.
to a violation of the Sherman Antitrust Act and fine of USD925m.
15, 1914, the Clayton Antitrust Act, which expanded on the Sherman Antitrust Act of 1890, was signed into law by President Woodrow Wilson.
District Judge Claudia Wilken ruled that the National Collegiate Athletic Association, whose member schools make billions of dollars off the players' performances but don't give the players even a tiny slice of the revenue, is engaged in illegal price fixing - a violation of the Sherman Antitrust Act.
This foreclosure of competition and anticompetitive conduct by SESAC and certain of its affiliates in the licensing of SESAC music were challenged as violations of Sections 1 and 2 of the Sherman Antitrust Act, prohibiting, respectively, unreasonable restraints of trade, monopolization, and a conspiracy to monopolize.
Cote said the plaintiffs presented "compelling evidence" that Apple violated the federal Sherman antitrust law by playing a "central role" in a conspiracy with five major publishers to eliminate retail price competition and raise e-book prices.
Debs, William Jennings Bryan, and Grover Cleveland, and a section of primary sources like an excerpt from Mark Twain's Roughing It, a New York Times article on displays of wealth at a high-society ball; an article on the overcrowded, unsanitary conditions of poor residents in tenement buildings; Andrew Carnegie's writings about philanthropy; and the Sherman Antitrust Act.
The Sherman Antitrust Act of 1890 was designed to eliminate monopolistic practices of the American Railway Union, the American Tobacco Company and the Norton Securities Trust.
The Sherman Antitrust Act of 1890 broadly prohibits contracts, combinations, and conspiracies in "restraint of trade" and makes it unlawful "to monopolize" any line of commerce.