How did the Clayton Antitrust Act extend into the Sherman Antitrust Act?
The Sherman Antitrust Act of 1890 was the first piece of legislation that attempted to deal with this problem. In 1914, Congress passed the Clayton Antitrust Act. It expanded and strengthened the provisions of the earlier Sherman Act, allowing the government to more effectively restrict harmful business practices.
What was added to the Sherman Antitrust Act?
The Sherman Act authorized the federal government to sue trusts to dissolve them. Any combination "by way of trust or otherwise, which was in restraint of trade or commerce between the several States, or with foreign nations" was declared illegal.
What was the purpose of the Sherman and Clayton Antitrust Act?
The purpose of the Clayton Antitrust Act was to revise and strengthen the Sherman Antitrust Act of 1890 and clearly define unfair business practices. It was designed to prevent greedy corporations from taking advantage of consumers and small businesses.
What was the weakness of the Sherman Antitrust Act?
The main weakness of the Sherman Antitrust Act was that it was not specific about the types of actions that would violate the law. The primary purpose of antitrust laws is to
What did the Sherman Anti-Trust Act help accomplish?
The Sherman Anti-Trust Act was created to help workers and small businessmen by encouraging competition. Although it helped these two groups, the act ultimately hindered workers from achieving better working conditions.
What was the penalty for violating the Sherman Antitrust Act?
Penalties for violating the antitrust laws include criminal and civil penalties: Violations of the Sherman Act individuals are subject to fines of up to $350,000 and up to 3 years in prison. Violations of the Clayton Act Individuals injured by antitrust violations can sue the violators in court for three times the amount they actually suffered.
Few things are more frowned upon in let's say Western jurisdictions than business practices that undermine competition and through so-called antitrust laws (…