Anti-trust
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| What Does Section 2 of the Sherman Act Ban? | bans “monopolization”—the wrongful acquisition of a monopoly.
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| What does section 1 of the Sherman Act ban? | prohibits all agreements “in restraint of trade.”
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| What does the Robinson-Patman Act ban? | Bans bans price discrimination that reduces competition
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| What does the Clayton Act Prohibit? | prohibits anticompetitive mergers, tying arrangements, and exclusive dealing
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| What is the purpose of the Clayton Act? | (1914) To further define the Sherman Act (close loopholes).
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| Violations of the antitrust laws are divided into two categories | per se ; rule of reason.
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| 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.
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| 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
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| Who has the authority to enforce antitrust laws? | Both the Justice Department and the Federal Trade Commission (FTC)
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| Which is the only department theat can bring criminal proceedings in an antitrust case? | Justice Department
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| two approaches managers typically consider in developing a competitive strategy | Cooperative strategies / Aggressive strategies
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| Definition - Cooperative strategies | allow companies to work together to their mutual advantage
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| Definition - Aggressive strategies | designed to create an advantage over competitors
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| Three types of cooperative strategies that are potentially illegal: | Horizontal Cooperative Strategies Vertical Cooperative Strategies Mergers and Joint Ventures
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