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A 1914 American antitrust law that expanded and clarified the Sherman Act of 1890. The act prohibited price discrimination, mergers that substantially decrease competition, and other practices that the Sherman Act left for court interpretation. Significantly, the Clayton Act exempted unions and labor organizations from its provisions because the Sherman Act had been used to restrict the ability to strike.
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A 1914 federal antitrust law designed to promote competition by prohibiting or severely restricting practices such as the acquisition of competitors, price discrimination, secret rebates, and interlocking directorates.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.