A 1914 federal antitrust law designed to promote competition by prohibiting or severely restricting practices such as the acquisition of competitors, price discrimination, secret rebates, and interlocking directorates.
An
antitrust law passed in 1914 that prohibits
a variety of pricing violations, such as discriminatory rebates, pricing or
discounts that favor one group of customers over another. Section 7 of the
Clayton Act prohibits mergers if the effect would be to substantially lessen
competition or to create a monopoly. Within that section, the Hart-Scott-Rodino
Act requires prior notification of mergers over $50 million to both the Federal
Trade Commission (FTC) and the Justice Department, who are jointly charged with
monitoring compliance. The $50 million will adjust beginning October 1, 2004 to
take into account changes in the U.S. economy, based on gross national product
from the previous year. Although the Clayton Act was passed in 1914, it has
been updated and amended, including the Hart-Scott-Rodino Act, which was passed
in 1976.
A 1914 federal antitrust law designed to promote competition by prohibiting or severely restricting practices such as the acquisition of competitors, price discrimination, secret rebates, and interlocking directorates.
A federal statute, adopted
in 1914, that amends the Sherman Antitrust Act and prohibits certain business
practices, such as price discrimination as well as particular mergers and
acquisitions, if the practice might substantially reduce competition or create
a monopoly in a line of commerce. See also antitrust
law and Sherman Antitrust Act.
