SUMMARY_OF_KEY_ANTITRUST_LEGISLATION(2)

SUMMARY_OF_KEY_ANTIT - SUMMARY OF KEY ANTITRUST LEGISLATION The Sherman Antitrust Act(1890 Section 1 Trusts etc in restraint of trade illegal

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SUMMARY OF KEY ANTITRUST LEGISLATION The Sherman Antitrust Act (1890) Section 1. Trusts, etc., in restraint of trade illegal; penalty Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court. Section 2. Monopolizing trade a felony; penalty Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court. The Clayton Act (1914) made both substantive and procedural modifications to federal antitrust law. Substantively, the act seeks to capture anticompetitive practices in their incipiency by prohibiting particular types of conduct, not deemed in the best interest of a competitive market. There are 4 sections of the bill that proposed substantive changes in the antitrust laws by way of supplementing the Sherman Act of 1890. In those sections, the Act thoroughly discusses the following four principles of economic trade and business: *price discrimination between different purchasers if such a discrimination substantially lessens
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This note was uploaded on 05/06/2010 for the course ECON econ 170 taught by Professor Mcdevitt during the Spring '10 term at UCLA.

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SUMMARY_OF_KEY_ANTIT - SUMMARY OF KEY ANTITRUST LEGISLATION The Sherman Antitrust Act(1890 Section 1 Trusts etc in restraint of trade illegal

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