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U.S. Antitrust Laws

Purpose of each law.

1887: Interstate Commerce Act created the Interstate Commerce Commission (ICC) to oversee railroad rates; currently regulates railroads, motor vehicles, and other freight carriers
1890: Sherman Antitrust Act prohibits any agreements, contracts, or conspiracies that would restrain interstate trade or cause monopolies to form
1914: Clayton Antitrust Act clarified and strengthened the Sherman Antitrust Act by prohibiting price discrimination, and local price cutting, mergers that reduce competition, and exclusive sales contracts
1936: Robinson-Patman Act (also called the ANtiprice Discrimination Act) protects small retail business by prohibiting wholesalers from charging small retailers and by prohibiting large retailers from setting artificially low prices
1950: Celler-Kefauver Act amended the Clayton Act to prohibit corporate acquisitions when they substantly decrease competition
1975: Antitrust Procedures and Penalties Act Increased penalties for violating antitrust laws
1976: Parens Patriae Act gives states the right to sue companies on behalf of citizens harmed by the company's antitrust violations; requires large companies to notify the government of planned mergers, strengthened the federal government's power to investigate violations
Created by: carlobascara