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 ?
Costco claims the Washington Liquor Control Board regulations that prevent it from negotiating directly with producers is unconstitutional and violates the federal Sherman Antitrust Act, which says every contract or conspiracy in restraint of trade or commerce among states or foreign nations is illegal.
Just five days before the MTA deadline to submit an RFPs for the development rights to the Hudson Rail Yards, the New York Jets organization filed suit in the United States District court for the Southern District of New York against Cablevision Systems Corporation, the owner of Madison Square Garden and Radio City Music Hall, for engaging in unlawful and anticompetitive actions in violation of the Sherman Antitrust Act.
In this recent federal case, a hospital which allegedly had a monopoly and also had "tying" agreements with health care providers was alleged to be in violation of the Sherman Antitrust Act as well as state antitrust laws.
In 1922, in one of its more dubious decisions, the Supreme Court ruled that Major League Baseball games do not constitute interstate commerce, and thus are not subject to the Sherman Antitrust Act, an exemption never extended to any other professional sports league.
The federal government filed suit against Standard Oil in 1906 for violating the Sherman Antitrust Act, and in 1909, the company was found guilty; the Supreme Court affirmed the finding in 1911.
Over the past 15 years, the courts have become much more rigorous about what constitutes a violation of the Sherman Antitrust Act and Microsoft is at the focal point of that discussion because of its antitrust lawsuit.
The complaint accuses Osteotech of monopolization, attempted monopolization, monopoly leveraging, and unlawful exclusive dealing in violation of Sections 1 and 2 of the federal Sherman Antitrust Act and Section 3 of the federal Clayton Act.
It also seems that these corporations are or are on the verge of violating the Sherman Antitrust Act of 1890, enacted to prevent monopolies, keeping healthy competition alive to protect the consumers.
When the government ordered the breakup of the Standard Oil company in 1911, under the Sherman Antitrust Act, La Follette celebrated: "So flagrant has been its violation of the anti-trust law that its eminent lawyers were not able to prove it even `reasonably' innocent.
There are two major antitrust statutes: the Sherman Antitrust Act and the Robinson-Patman Act.
The major federal antitrust law that associations have to be aware of is the Sherman Antitrust Act.
NLC's brief argued that the insurance companies were subject to antitrust suits regardless of the exemption provided in the McCarren-Ferguson Act because the Sherman Antitrust Act supersedes McCarren when the case involves "any agreement to boycott, coerce or intimidate.