Antitrust Law – USA
Trusts and monopolies are concentrations of wealth in the hands of a few. Such conglomerations of economic resources are thought to be injurious to the public and individuals because such trusts minimize, if not obliterate normal marketplace competition, and yield undesirable price controls. These, in turn, cause markets to stagnate and sap individual initiative.
Competition law is known in the United States as “antitrust law”. The substance and practice of competition law vary from jurisdiction to jurisdiction. Protecting the interests of consumers (consumer welfare) and ensuring that enterpreneurs have an opportunity to compete in the market economy are often treated as important objectives.
The Clayton Antitrust Act of 1915 was enacted in the United States to add further substance to the U.S. antitrust law regime. That regime started with the Sherman Antitrust Act of 1890, the first Federal law outlawing practices considered harmful to consumers (monopolies and cartels). The Clayton act specified particular prohibited conduct, the three-level enforcement scheme, exemptions, and remedial measures.
Statutory provisions and guidelines of the antitrust division.
A plain English guide to Antitrust Laws.
The Sherman Antitrust Act (Sherman Act, July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. § 1–7), was the first United States government action to limit cartels and monopolies. It is the first and oldest of all U.S., federal, antitrust laws.
Sherman Antitrust Act, 1890, first measure passed by the U.S. Congress to prohibit trusts; it was named for Senator John Sherman. Prior to its enactment, various states had passed similar laws, but they were limited to intrastate businesses.
Summaries of U.S. antitrust cases.
Competition Law – International
The Australian Competition and Consumer Commission is an independent Commonwealth statutory authority. It was formed in 1995 to administer the Trade Practices Act 1974 and other acts. The ACCC promotes competition and fair trade in the market place to benefit consumers, business and the community. It also regulates national infrastructure services. Its primary responsibility is to ensure that individuals and businesses comply with the Commonwealth competition, fair trading and consumer protection laws. The ACCC is the only national agency dealing generally with competition matters and the only agency with responsibility for enforcing the Trade Practices Act and the state/territory application legislation.
European Community competition law is one of the areas of authority of the European Union. Competition law, or antitrust as it is known in the United States, regulates the exercise of market power by large companies, governments or other economic entities. In the EU, it is an important part of ensuring the completion of the internal market, meaning the free flow of working people, goods, services and capital in a borderless Europe.
Competition Law and Policy in Argentina, Brazil, Chile, Mexico, Peru.
Competition policy has emerged as an important aspect of international business. Businesses operating within the Asia Pacific region are no exception. Competition policy is complex and varies greatly from member to member. Some APEC member economies have laws dating back more than a century, some have relatively recent laws, and others still have no laws at all. Recognizing this disparity of conditions among member economies, gathering and collating information and the establishment of a regional database is one essential step towards narrowing the competition information gap among member economies.
The Global Competition Law Centre (GCLC) is a research centre of the College of Europe. It was founded on 1 January 2004, aims to promote rigorous legal and economic analysis of competition policy reforms in the EU and globally, and to provide a discussion forum for academics, practitioners, and enforcement officers in the competition field.
The International Review of Intellectual Property and Competition Law (IIC), formerly International Review of Industrial Property and Copyright Law, is a review published by the Max Planck Institute for Intellectual Property, Competition and Tax Law, based in Munich, Germany. There are eight issues per year and the language of publication is English. The review has been published since 1970.
The OFT is the UK’s consumer and competition authority. Our mission is to make markets work well for consumers.
Associations Involved with Antitrust and Competition
The FTC deals with issues that touch the economic life of every American. It is the only federal agency with both consumer protection and competition jurisdiction in broad sectors of the economy. The FTC pursues vigorous and effective law enforcement; advances consumers’ interests by sharing its expertise with federal and state legislatures and U.S. and international government agencies; develops policy and research tools through hearings, workshops, and conferences; and creates practical and plain-language educational programs for consumers and businesses in a global marketplace with constantly changing technologies.
The International Competition Network (ICN) provides antitrust agencies from developed and developing countries with a focused network for addressing practical antitrust enforcement and policy issues of common concern. It facilitates procedural and substantive convergence in antitrust enforcement through a results-oriented agenda and informal, project-driven organization.
In the public part of this site you will find information about the League and how it works, the national groups and upcoming meetings (such as the Congress in Hamburg, Germany, September 25 till 28, 2008), as well as information about the questions addressed by the League. You will find issues of the International Review of Competition Law. There you will also find the most resolutions adopted by the LIDC as well as the archived one’s.
The OECD’s Competition Committee is the world’s premier source of policy analysis and advice to governments on how best to harness market forces in the interests of greater global economic efficiency and prosperity. Bringing together the leaders of the world’s major competition authorities, the Committee is the chief international forum on important competition policy issues.
Website of The Competition Law Association. We are the British Group of the International League of Competition Law (Ligue Internationale du Droit de la Concurrence – LIDC). We promote the study and discussion of the law and commercial practices affecting competition, both nationally and internationally.
Publications for Antitrust and Competition Law
The Competition Law Review is a fully refereed scholarly academic law journal. The CompLRev is distinctive from other competition journals by virtue of having a very strong scholarly basis and focus on particular topical competition law themes. It provides scholars with a forum in which to discuss in detail the complexities and underlying trends in modern competition law.
A prestigious new journal dedicated to competition law and policy, the Journal of Competition Law and Economics publishes articles of a substantial length providing in-depth analysis of developments in competition law, including developments in the US and EU but also covering other regional and national developments. The journal also publishes economic papers relevant to legal theory and practice. While incorporating rigorous economic analysis, these papers address economic issues in a manner readily understandable by lawyers and policy-makers.
Latest news and posts on Antitrust Law.
The antitrust laws of the United States apply in general terms to business abroad, but the specifics of their application present numerous special issues. The first family of issues relates to United States jurisdiction over extraterritorial conduct. The second family of issues relates to exemptions, defenses, and immunities arising from national policies that may be in conflict with the policies underlying the antitrust laws. Other families of issues relate to discovery, remedies, and relief.
This database is aimed at facilitating discussion between academics and practitioners and is devoted to scholarly works-in-progress and to the distribution of other materials on competition law and policy.
Other Resources for Antitrust and Competition Law
Many consumers have never heard of antitrust laws, but when these laws are effectively and responsibly enforced, they can save consumers millions and even billions of dollars a year in illegal overcharges. Most states have antitrust laws, and so does the federal government. Essentially, these laws prohibit business practices that unreasonably deprive consumers of the benefits of competition, resulting in higher prices for inferior products and services.
Official home page with public documents, antitrust case filing and updates.