The Political–Legal Environment
(slide 2 of 9)
Date
Law Description
A. Laws Maintaining
a Competitive Environment
1890
Sherman Antitrust Act
Prohibits restraint of trade and monopolization;
identifies a competitive marketing system as a
national policy goal.
1914
Clayton Act
Strengthens the Sherman Act by restricting
practices such as price discrimination, exclusive
dealing, tying contracts, and interlocking boards of
directors where the effect “may be to substantially
lessen competition or tend to create a monopoly”;
amended by the
Celler–Kefauver Antimerger
Act to
prohibit major asset purchases that would
decrease competition in an industry.
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The Political–Legal Environment
(slide 3 of 9)
Date
Law Description
A. Laws Maintaining
a Competitive Environment
1914
Federal Trade Commission
Act (FTC)
1938