Define: Sherman Antitrust Act

The Sherman Antitrust Act is a federal law enacted in 1890 that prohibits certain business practices that restrict competition and prevent free trade.

The Sherman Antitrust Act prohibits agreements or actions that restrain trade, such as price-fixing, bid-rigging, and monopolistic practices.

The enforcement of the Sherman Antitrust Act is primarily carried out by the Antitrust Division of the U.S. Department of Justice.

Violations of the Sherman Antitrust Act can result in both civil and criminal penalties. Civil penalties can include fines and injunctions, while criminal penalties can include imprisonment and substantial fines.

Yes, individuals and businesses that have been harmed by antitrust violations can file private lawsuits seeking damages under the Sherman Antitrust Act.

The statute of limitations for bringing a private lawsuit under the Sherman Antitrust Act is typically four years from the date the cause of action accrues.

Yes, foreign companies can be held liable under the Sherman Antitrust Act if their actions have a substantial effect on U.S. commerce.

Yes, the Sherman Antitrust Act can be used to break up monopolies and prevent anti-competitive behavior that harms consumers and stifles competition.

There are certain exemptions and defences to the Sherman Antitrust Act, such as the “state action” exemption, which allows certain state actions to be immune from antitrust scrutiny.

Yes, individuals who participate in or facilitate antitrust violations can be held personally liable under the Sherman Antitrust Act, in addition to the liability of their companies.