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 ?
In Timberlane, the Ninth Circuit analyzed whether an American lumber company's claims that a California bank's attempt to control "the Honduran lumber export business" by financing a few select corporations was enforceable as anti-competitive business activity under the Sherman Antitrust Act.
Section 1 of the Sherman Antitrust Act (1890) prohibits contracts, combinations and conspiracies in restraint of trade.
Neoclassical economics dominated mainstream law and economics in the academe and, though not entirely laissez faire, this approach doubted the efficacy of government intervention and opposed the Sherman Antitrust Act.
The Sherman Antitrust Act makes it illegal to "monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce.
Intended to protect independent retailers from price-cutting competition of large chain stores, such were originally nullified by the courts, which found most fair-trade rules in violation of the Sherman Antitrust Act.
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.
Additionally, the complaint claims the airline is in violation of both the Sherman Antitrust Act and the Clayton Antitrust Act, the first of which Korean Air has reportedly admitted guilt to in a deal with the U.
They are the Sherman Antitrust Act of 1890, the Clayton Act of 1914, and the Robinson-Patman Act of 1936.
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.
He filed a lawsuit against Viacom alleging that the conglom is violating the Sherman Antitrust Act by linking cable carriage terms to the distributor's rights to carry its local broadcast TV stations.
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.