What antitrust laws are specific to the US?
Antitrust laws in the United States are those laws which regulate competition. They are designed to protect the competitive process and promote competition. The Sherman Act was passed in 1890 and is one of the first pieces of federal antitrust legislation. The Sherman Act prohibits businesses from forming a monopoly, or exclusive control of a market, through engaging in anti-competitive practices. In addition, the Clayton Act, passed in 1914, regulates mergers and creates prohibitions against price discrimination and other anti-competitive practices. The Federal Trade Commission Act of 1914 created the Federal Trade Commission (FTC) and granted it with the power to investigate and prosecute alleged violations of the antitrust laws. The Robinson-Patman Act of 1936 amended the Clayton Act and prohibits anti-competitive pricing practices, such as discriminatory pricing between purchasers of products. Finally, the Hart-Scott-Rodino Antitrust Improvements act of 1976 requires corporations and other entities to notify the FTC and the Department of Justice prior to certain mergers and acquisitions to allow for an antitrust review. Overall, these laws and regulations protect the competitive process and promote competition in the United States. They ensure that businesses and consumers have access to fair and competitive prices while prohibiting businesses from forming a monopoly and engaging in other anti-competitive practices.
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