What did the Sherman Antitrust Act of 1890 do?
The Sherman Antitrust Act (Sherman Act, July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. 1–7) was the first United States Federal statute to limit cartels and monopolies.
What are the antitrust laws in the United States?
Guide to Antitrust Laws. Congress passed the first antitrust law, the Sherman Act, in 1890 as a „comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade.“. In 1914, Congress passed two additional antitrust laws: the Federal Trade Commission Act, which created the FTC, and the Clayton Act.
When was the first anti-trust law passed in the US?
How to use citation info. (on Archives.gov) Approved July 2, 1890, The Sherman Anti-Trust Act was the first Federal act that outlawed monopolistic business practices. The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts.
Is anticompetitive conduct illegal under the Sherman Act?
Over time, the federal courts have developed a body of law under the Sherman Act making certain types of anticompetitive conduct per se illegal, and subjecting other types of conduct to case-by-case analysis regarding whether the conduct unreasonably restrains trade.
When was the Sherman Act passed in the US?
The Sherman Act is codified 15 U.S.C. §§ 1-38 in Title 15 of the U.S. Code. The law was passed during the Gilded Age (the 1870s to 1900) when the United States experienced great transformation in the economy, government, and technology.
Does the Sherman Antitrust Act apply to foreign nations?
The Act does not apply to trade or commerce with foreign nations unless there was conduct that has a “direct, substantial, and reasonably foreseeable effect” and that effect gives rise to a claim under the Act. For a full text of the Sherman Antitrust Act, see:
What is antantitrust and how is it enforced?
Antitrust are typically instituted by United States Attorneys in their respective districts. Federal district courts have the jurisdiction to enjoin actions which violate the Sherman Act.