Overview of the 1890 Sherman Antitrust Act
The 1890 Sherman Antitrust Act is a United States federal law that prohibits certain business practices and encourages competition in the marketplace. The act was signed into law in 1890 by President Benjamin Harrison and was the first major federal antitrust legislation. It is seen as one of the most important antitrust laws in the United States and has been used to challenge a wide range of anticompetitive activities.
What is the Sherman Antitrust Act?
The Sherman Antitrust Act is a federal law that seeks to protect the competitive process in the U.S. economy by preventing certain types of anticompetitive behavior. The act prohibits agreements in restraint of trade, monopolization, and attempts to monopolize. It also forbids price-fixing and other forms of price discrimination.
What Does the Sherman Antitrust Act Prohibit?
The Sherman Antitrust Act prohibits several types of anticompetitive behavior, including:
- Agreements in restraint of trade
- Monopolization
- Attempts to monopolize
- Price-fixing and other forms of price discrimination
The act also makes it illegal for two or more persons to form a trust, which is an agreement between two or more parties to control production, pricing, or distribution of products or services.
Examples of Sherman Antitrust Act Violations
The Sherman Antitrust Act has been used to challenge a wide range of anticompetitive activities. Examples of Sherman Antitrust Act violations include:
- Price-fixing agreements between competitors
- Agreements between competitors to divide up markets
- Agreements to limit production or suppress new technologies
- Monopolization of a market by a single company
Conclusion
The 1890 Sherman Antitrust Act is a federal law that seeks to protect the competitive process in the U.S. economy by preventing certain types of anticompetitive behavior. It has been used to challenge a wide range of anticompetitive activities and remains an important tool in the enforcement of antitrust law. For more information on the Sherman Antitrust Act, please visit: