Section 1 Sherman Act

Penalty every contract combination in the form of trust or otherwise or conspiracy in restraint of trade or commerce among the several states or with foreign nations is declared to be illegal.

Section 1 sherman act. The sherman antitrust act 1890 section 1. The defendant knowingly joined the charged conspiracy. The sherman antitrust act of 1890.

1 3 or alleging a violation of any similar state law based on conduct covered by a currently effective antitrust leniency agreement the amount of damages recovered by or on behalf of a claimant from an antitrust leniency applicant who satisfies the requirements of subsection. 1 7 is a united states antitrust law that regulates competition among enterprises that was passed by congress under the presidency of benjamin harrison it is named for senator john sherman its principal author. Elements of the offense.

The sherman act imposes criminal penalties of up to 100 million for a corporation and 1 million for an individual along with up to 10 years in prison. The sherman antitrust act was passed in 1890 after widespread growth of trusts in the 1880 s. The three key federal statutes in antitrust law are the sherman act section 1 the sherman act section 2 and the clayton act section 1 delineates and prohibits specific means of anticompetitive conduct.

The sherman act broadly prohibits 1 anticompetitive agreements and 2 unilateral conduct that monopolizes or. The actual language is that every contract combination in the form of trust or otherwise or conspiracy in restraint of trade or commerce among the. Antitrust laws exist as both federal statutes and state statutes.

Within section 2 the main topics covered are the use of monopolies whether intended or unintended and either by an individual company or companies to restrain interstate commerce. Antitrust refers to the regulation of the concentration of economic power particularly with regard to trusts and monopolies. Trusts etc in restraint of trade illegal.

Section 1 of the sherman act prohibits every contract combination or conspiracy that restrains interstate trade or trade with foreign nations so long as those restraints are unreasonably restrictive of competition in a relevant market. Section 1 defines and bans specific means of anticompetitive conduct. To establish a criminal violation of section 1 of the sherman act 15 u s c.