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Anti-trust

QuestionAnswer
What Does Section 2 of the Sherman Act Ban? bans “monopolization”—the wrongful acquisition of a monopoly.
What does section 1 of the Sherman Act ban? prohibits all agreements “in restraint of trade.”
What does the Robinson-Patman Act ban? Bans bans price discrimination that reduces competition
What does the Clayton Act Prohibit? prohibits anticompetitive mergers, tying arrangements, and exclusive dealing
What is the purpose of the Clayton Act? (1914) To further define the Sherman Act (close loopholes).
Violations of the antitrust laws are divided into two categories per se ; rule of reason.
Points of per se • Automatice violations • can't defend by saying, “impact wasn't so bad”, “No one was hurt.” • defendants subject to both criminal and civil penalties. • Typically, the Justice Department has sought criminal sanctions only against per se violators.
Points of rule of reason Illegal only if anticompet impact. They consider circumstances, intent, impact to see if activity is unreasonable restraint of trade; If competitors agree to not deal with supplier, is illegal only if it harms comp. Tho Violators subject to civil pen/su
Who has the authority to enforce antitrust laws? Both the Justice Department and the Federal Trade Commission (FTC)
Which is the only department theat can bring criminal proceedings in an antitrust case? Justice Department
two approaches managers typically consider in developing a competitive strategy Cooperative strategies / Aggressive strategies
Definition - Cooperative strategies allow companies to work together to their mutual advantage
Definition - Aggressive strategies designed to create an advantage over competitors
Three types of cooperative strategies that are potentially illegal: Horizontal Cooperative Strategies Vertical Cooperative Strategies Mergers and Joint Ventures
Created by: Raidinator