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Historical Development Of Antitrust Laws

Historical Development Of Antitrust Laws. Clayton Act. Sherman Antitrust. Amended. 1914. 1890. 1936. 1950. 1938. Federal Trade Commission Act. Amended. Antitrust Laws: Economic Assumptions. Many Small Competitors Better Than Few Larger Ones

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Historical Development Of Antitrust Laws

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  1. Historical DevelopmentOf Antitrust Laws Clayton Act Sherman Antitrust Amended 1914 1890 1936 1950 1938 Federal Trade Commission Act Amended

  2. Antitrust Laws:Economic Assumptions • Many Small Competitors Better Than Few Larger Ones • No Organization/Individual Should Control Production Quantities Or Set Prices

  3. Sherman Act • Trust • Trustee • Beneficiary • Restraint Of Trade • Contracts/ Combinations/ Conspiracies • Price Fixing • Monopoly • Deliberate • Predatory Conduct

  4. Analysis In Antitrust Law- Two Principles • Rule Of Reason- Test Of Reasonableness • Nature/Character Of Contract • Surrounding Circumstances • Per Se Illegality- Proof Of Activity = Proof Of Violation • Courts Distinguish Case By Case

  5. Sherman Act- Sanctions Subject To Fines/Imprisonment Property Subject To Seizure & Forfeiture Enjoined By Courts • Preponderance of evidence. • Beyond Rsnble doubt Triple Damages

  6. Sherman Act - Exemptions • Insurance Companies • Farm Cooperatives • Shipping • Milk Marketing • Investment Companies • State Action • Labor Unions- Normal Activities • Noerr-Pennington Doctrine

  7. Types of Cases • Price • Fixing • Territorial Agreements • Horizontal – Between Competitors • Vertical – Resale Price Maintenance, Colgate Doctrine • Indirect – Protect Marketing • Horizontal • Vertical • Concerted Activities

  8. International Cases • Cartels • Antitrust Division – 90% of Criminal Fines Imposed Relate To International Cartels Since ’97 • Most Large Defendants Are Foreign Based

  9. Clayton Act • Outlawed Practices • Substantially Lessen Competition • Creates Monopoly • Eased Burden Of Proof • Justice Dept.- Court Injunctions • Triple Damages, Costs & Fees

  10. Robinson-PatmanAmendment • Quantity Purchase Advantage (FTC) • Sale Of Goods • Predatory Pricing • Exceptions • Good-Faith Transactions • Pricing Due To Changing Conditions • Cost Justification • Good-Faith Meeting-Of-Competition

  11. Clayton Act – Special Arrangements • Tying Contract • Reciprocal Dealing • Exclusive Dealing • Requirements Contract

  12. Types of Mergers/Acquisitions Horizontal + = AB A B Vertical Conglomerate + + + +

  13. Types Of Mergers (cont’d) Market Extension Geographic Extension + = Market Extension +

  14. Federal Trade Commission Act • Unfair Competition • Enforcement • Conduct Injure Consumers? • Offend Public Policy? • Conduct Oppressive, Immoral, Unscrupulous, Unethical • Primary Function = Prevention

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