Table : TABLE 1 MAJOR ANTITRUST LAWS
TABLE 1 MAJOR ANTITRUST LAWS

  • The Sherman Act (1890)

  • Activity in “restraint of trade” is made a felony.

  • Monopolization or attempt to monopolize is made a felony.

  • Conviction in either carries a fine of up to $10 million for corporations and $350,000 for individuals, and/or a prison sentence of up to 3 years.

  • Congress purposefully left “restraint of trade” and “monopolization” undefined, thus requiring the courts to flesh them out.

  • The Clayton Act (1914)

  • Unlawful to price discriminate if such discrimination substantially lessens competition. This rule was strengthened by the Robinson-Patman Act in 1936, although today the federal government rarely enforces its provisions, viewing them as outdated.

  • Companies cannot acquire all or part of another where the effect may be to substantially lessen competition or create a monopoly. This rule was strengthened by the 1950 Celler-Kefauver Act by preventing mergers via asset acquisition and setting up elaborate premerger notification requirements for mergers exceeding a certain size.

  • The Federal Trade Commission Act (1914)

  • Unfair methods of competition and deceptive acts are made illegal.

  • Established an independent regulatory body, the Federal Trade Commission (FTC).

    • This Act is the centerpiece of federal consumer protection. The Supreme Court has given the FTC the power to enforce antitrust laws, except the Sherman Act.