Lecture 3 Antitrust Law(1).pdf

Lecture 3 Antitrust Law(1).pdf - Lecture 3 Antitrust Law...

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Lecture 3: Antitrust Law
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Antitrust Law: History, Objective and the Law Focus on the history, objectives and main feature of antitrust law in the U.S. Major pieces of antitrust legislation in the U.S. History of antitrust law Objectives of antitrust law
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Major Anti-trust Law in the United States 1 Sherman Act (1890): Section 1 prohibits contracts, combinations, conspiracies which restrain trade, and prescribes imprisonment and fines for violators. price-fixing is illegal under section 1 of Sherman Act Section 2 prohibits monopolization, attempts to monopolize and conspiracies to monopolize any part of the trade or commerce among the several states, or with foreign nations. Notice that having a monopoly position is not by itself illegal. Section 2 of Sherman Act covers anti-competitive and malignant single-firm practices. Sherman act covers price fixing and market sharing agreements between independent firms, as well as monopolization practices by individual companies but not merger
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