Clayton Antitrust Act
- an act of Congress in 1914 supplementing the Sherman Antitrust Act and establishing the FTC.
* * *▪ United States law enacted in 1914 by the United States Congress to clarify and strengthen the Sherman Antitrust Act (1890). The vague language of the latter had provided large corporations with numerous loopholes, enabling them to engage in certain restrictive business arrangements that, though not illegal per se, resulted in concentrations that had an adverse effect on competition. Thus, despite the trust-busting activities of the administrations of Presidents Theodore Roosevelt and William Howard Taft under the Sherman Act, it appeared to a congressional committee in 1913 that big business had continued to grow bigger and that the control of money and credit in the country was such that a few men had the power to plunge the nation into a financial panic. When President Woodrow Wilson (Wilson, Woodrow) asked for a drastic revision of existing antitrust legislation, Congress responded by passing the Clayton measure.Whereas the Sherman Act only declared monopoly illegal, the Clayton Act defined as illegal certain business practices that are conducive to the formation of monopolies or that result from them. For example, specific forms of holding companies and interlocking directorates were forbidden, as were discriminatory freight (shipping) agreements and the distribution of sales territories among so-called natural competitors. Two sections of the Clayton Act were later amended by the Robinson-Patman Act (1936) and the Celler-Kefauver Act (1950) to fortify its provisions. The Robinson-Patman amendment made more enforceable Section 2, which relates to price and other forms of discrimination among customers. The Celler-Kefauver Act strengthened Section 7, prohibiting one firm from securing either the stocks or the physical assets (i.e., plant and equipment) of another firm when the acquisition would reduce competition; it also extended the coverage of antitrust laws (antitrust law) to all forms of mergers whenever the effect would substantially lessen competition and tend to create a monopoly. Earlier legislative measures had simply restricted horizontal mergers—those involving firms that produce the same type of goods. In contrast, the Celler-Kefauver Act went farther by restricting even mergers of companies in different industries (i.e., conglomerate mergers). The Clayton Act and other antitrust and consumer protection regulations are enforced by the Federal Trade Commission.
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Clayton Antitrust Act — A federal antitrust law, enacted in 1914, that amended and expanded upon the Sherman Act (enacted in 1890), which prohibits direct or indirect interference with interstate trade. Category: Business, LLCs & Corporations Category: Small Claims… … Law dictionary
Clayton Antitrust Act — The Clayton Antitrust Act of 1914 (Pub.L. 63 212, 38 Stat. 730, enacted October 15, 1914, codified at 15 U.S.C. §§ 12–27, 29 U.S.C. §§ 52–53), was enacted in the United States to add further substance to the U.S … Wikipedia
Clayton Antitrust Act — Aux États Unis, le Clayton Antitrust Act du 15 octobre 1914 fut voté pour remédier aux insuffisances du Sherman Antitrust Act de 1890, la première loi du droit moderne de la concurrence rendant illégales certaines pratiques anticoncurrentielles.… … Wikipédia en Français
Clayton Antitrust Act — An amendment passed by the U.S. Congress in 1914 that provides further clarification and substance to the Sherman Antitrust Act of 1890. The Clayton Antitrust Act attempts to prohibit certain actions that lead to anti competitiveness. The Clayton … Investment dictionary
Clayton Antitrust Act — an act of Congress in 1914 supplementing the Sherman Antitrust Act and establishing the FTC … Useful english dictionary
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Sherman Antitrust Act — Sen. John Sherman (R OH), the principal author of the Sherman Antitrust Act … Wikipedia
Sherman Antitrust Act — n. A federal statute passed in 1890 to prevent monopolies and restrictions on free and open interstate and foreign commerce; see also antitrust, Clayton Act The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy… … Law dictionary
Sherman Antitrust Act — Pour les articles homonymes, voir Antitrust. Le Sherman Anti Trust Act du 2 juillet 1890 est la première tentative du gouvernement américain de limiter les comportements anticoncurrentiels des entreprises : il signe ainsi la… … Wikipédia en Français
Sherman Antitrust Act — an act of Congress (1890) prohibiting any contract, conspiracy, or combination of business interests in restraint of foreign or interstate trade. Cf. Clayton Antitrust Act. [named after John SHERMAN, who introduced the bill in Congress] * * *… … Universalium