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The Sherman Antitrust Act of 1890 (26 Stat. 209, 15 U.S.C. §§ 1–7) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce and consequently prohibits unfair monopolies.
Sherman Antitrust Act, first legislation enacted by the United States Congress (1890) to curb concentrations of power that interfere with trade and reduce economic competition. It was named for U.S. Senator John Sherman of Ohio, who was an expert on the regulation of commerce.
Mar 15, 2022 · The Sherman Anti-trust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts. It was named for Senator John Sherman of Ohio, who was a chairman of the Senate finance committee and the Secretary of the Treasury under President Hayes.
Sherman Antitrust Act of 1890 is a federal statute which prohibits activities that restrict interstate commerce and competition in the marketplace. It outlaws any contract, conspiracy, or combination of business interests in restraint of foreign or interstate trade.
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.
Apr 21, 2024 · The Sherman Antitrust Act is a law the U.S. Congress passed to prohibit trusts, monopolies, and cartels. Its purpose was to promote economic fairness and competitiveness and to regulate...
Jul 11, 2024 · On July 2, 1890, President Benjamin Harrison signed into law the Sherman Anti Trust Act. The proponent of the law and the man it was named after was Senator John Sherman, a Republican from Ohio.
Dec 20, 2023 · The Sherman Antitrust Act. This law prohibits conspiracies that unreasonably restrain trade. Under the Sherman Act, agreements among competitors to fix prices or wages, rig bids, or allocate customers, workers, or markets, are criminal violations.
Proposed by Sen. John Sherman, it made illegal all attempts to monopolize any part of trade or commerce in the U.S. Initially used against trade unions, it was more widely enforced under Pres. Theodore Roosevelt .
The Sherman Antitrust Act (1890) Section 1. Trusts, etc., in restraint of trade illegal; 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.
