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The Sherman Antitrust Act of 1890 is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce. It was passed by Congress and is named for Senator John Sherman, its principal author.
In economics, industrial organization is a field that builds on the theory of the firm by examining the structure of firms and markets. Industrial organization adds real-world complications to the perfectly competitive model, complications such as transaction costs, limited information, and barriers to entry of new firms that may be associated with imperfect competition. It analyzes determinants of firm and market organization and behavior on a continuum between competition and monopoly, including from government actions.
In the United States, antitrust law is a collection of mostly federal laws that regulate the conduct and organization of businesses to promote competition and prevent unjustified monopolies. The three main U.S. antitrust statutes are the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914. These acts serve three major functions. First, Section 1 of the Sherman Act prohibits price fixing and the operation of cartels, and prohibits other collusive practices that unreasonably restrain trade. Second, Section 7 of the Clayton Act restricts the mergers and acquisitions of organizations that may substantially lessen competition or tend to create a monopoly. Third, Section 2 of the Sherman Act prohibits monopolization.
Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss. Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition:
The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) antitrust law and the promotion of consumer protection. The FTC shares jurisdiction over federal civil antitrust enforcement with the Department of Justice Antitrust Division. The agency is headquartered in the Federal Trade Commission Building in Washington, DC.
Anti-competitive practices are business or government practices that prevent or reduce competition in a market. Antitrust laws differ among state and federal laws to ensure businesses do not engage in competitive practices that harm other, usually smaller, businesses or consumers. These laws are formed to promote healthy competition within a free market by limiting the abuse of monopoly power. Competition allows companies to compete in order for products and services to improve; promote innovation; and provide more choices for consumers. In order to obtain greater profits, some large enterprises take advantage of market power to hinder survival of new entrants. Anti-competitive behavior can undermine the efficiency and fairness of the market, leaving consumers with little choice to obtain a reasonable quality of service.
European Union competition law is the competition law in use within the European Union. It promotes the maintenance of competition within the European Single Market by regulating anti-competitive conduct by companies to ensure that they do not create cartels and monopolies that would damage the interests of society.
The Harvard Law Review is a law review published by an independent student group at Harvard Law School. According to the Journal Citation Reports, the Harvard Law Review's 2015 impact factor of 4.979 placed the journal first out of 143 journals in the category "Law". It is published monthly from November through June, with the November issue dedicated to covering the previous year's term of the Supreme Court of the United States. The journal also publishes the online-only Harvard Law Review Forum, a rolling journal of scholarly responses to the main journal's content. The law review is one of three honors societies at the law school, along with the Harvard Legal Aid Bureau and the Board of Student Advisors. Students who are selected for more than one of these three organizations may only join one.
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law, anti-monopoly law, and trade practices law; the act of pushing for antitrust measures or attacking monopolistic companies is commonly known as trust busting.
National Law School of India University (NLSIU), or simply National Law School(NLS), is a public law school and a National Law University located in Bangalore. Considered the best law school in India, it has topped all indices relating to law schools.
The University of Michigan Law School is the law school of the University of Michigan, a public research university in Ann Arbor, Michigan. Founded in 1859, the school offers Master of Laws (LLM), Master of Comparative Law (MCL), Juris Doctor (JD), and Doctor of the Science of Law (SJD) degree programs.
The Yale Law Journal (YLJ), known also as the Yale Law Review, is a student-run law review affiliated with the Yale Law School. Published continuously since 1891, it is the most widely known of the eight law reviews published by students at Yale Law School. The journal is one of the most cited legal publications in the United States and usually generates the highest number of citations per published article.
Chicago-Kent College of Law is the law school of the Illinois Institute of Technology, a private research university in Chicago, Illinois. It is the second oldest law school in the state of Illinois. In 2023, Chicago-Kent was ranked 94th among U.S. law schools by U.S. News & World Report and its trial advocacy program is ranked as the 7th best program in the United States.
In contract law, a non-compete clause, restrictive covenant, or covenant not to compete (CNC), is a clause under which one party agrees not to enter into or start a similar profession or trade in competition against another party. Some courts refer to these as "restrictive covenants". As a contract provision, a CNC is bound by traditional contract requirements including the consideration doctrine.
Continental Paper Bag Co. v. Eastern Paper Bag Co., 210 U.S. 405 (1908), was a case in which the Supreme Court of the United States established the principle that patent holders have no obligation to use their patent.
The National University of Advanced Legal Studies (NUALS) is a public law school and a National Law University located in Kochi, India. It is the first and only National Law University in the State of Kerala and one of the 24 NLUs in India. Admissions to the university are done on the basis of the Common Law Admission Test.
Dean Milk Co. v. City of Madison, Wisconsin, 340 U.S. 349 (1951), was a United States Supreme Court case dealing with the Dormant Commerce Clause, used to prohibit states from limiting interstate commerce.
The Faculty of Law, University of Delhi is the law department of the University of Delhi. It has the unique distinction of producing the largest number of sitting judges of the Supreme Court of India.
The Boletín Oficial del Estado is the official gazette of the Kingdom of Spain and may be published on any day of the week. The content of the BOE is authorized and published by Royal Assent and with approval from the Spanish Presidency Office.
The Rutgers Computer and Technology Law Journal, founded in 1969 at Rutgers School of Law–Newark, is the world's oldest and longest running academic journal dealing with the interaction of law and technology. It is a student-run, law review–style publication, and two issues are published each year. The journal's staff is selected through a writing competition held at the end of each academic year.
References
- ↑ Sweetandmaxwell.co.uk, Product Details. Retrieved 15 August 2007.
