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 ?
The Sherman Antitrust Act prohibits certain business activities that restrict fair competition.
The Court noted that, at a very basic level, the business practices of Southeastern Underwriters were in massive violation of the Sherman Antitrust Act. In its decision, the Court meted out remedies that, to this day, form the foundation of the McCarran-Ferguson Act and the regulatory framework of modern insurance.
[section] 1 of the Sherman Antitrust Act, the United States Supreme
The organizations of agricultural producers acted under the Capper-Volstead Act (1922), a limited antitrust exemption from the Sherman Antitrust Act (1890).
prohibited such practices, which, if proven, are in violation of the Sherman Antitrust Act.
15, 1914, the Clayton Antitrust Act, which expanded on the Sherman Antitrust Act of 1890, was signed into law by President Woodrow Wilson.
He had contracted to sell more raisins than allowed, and when he was charged with violating the law, he filed suit arguing that the restriction violated the Sherman Antitrust Act's prohibition on restraints of trade.
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.
Accordingly, Congress enacted the Sherman Antitrust Act way back in 1890 to promote competition and outlaw unreasonable restraint of trade.
Market allocation agreements between competitors are illegal under the Federal Sherman Antitrust Act and state laws.
The Baltimore Terrapins of the defunct Federal League (founded as a minor league in 1913 and functioning as a rival major league in 1914 and 1915) argued that MLB teams had conspired to create a monopoly, thus violating the 1890 Sherman Antitrust Act by restraining interstate trade and commerce.