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Legal and Ethical Environment of Business

by: Roberta Nienow

Legal and Ethical Environment of Business BLAW 3175

Marketplace > University of Connecticut > Business Law > BLAW 3175 > Legal and Ethical Environment of Business
Roberta Nienow
GPA 3.76

Samuel Schrager

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Samuel Schrager
Class Notes
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This 3 page Class Notes was uploaded by Roberta Nienow on Thursday September 17, 2015. The Class Notes belongs to BLAW 3175 at University of Connecticut taught by Samuel Schrager in Fall. Since its upload, it has received 30 views. For similar materials see /class/205839/blaw-3175-university-of-connecticut in Business Law at University of Connecticut.


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Date Created: 09/17/15
Chapter 23 The Sherman Antitrust Act Every person who shall monopolize or attempt to monopolize or combine or conspire with any other person or person to monopolize any part of the trade or commerce among the several states or with foreign nations shall be deemed guilty ofa felony and is similarly punishable 39239 Major provision of the Sherman act gt Section 1 I Two or more persons I Agreements gt Section 2 I One person I Structure of monopoly 39239 Jurisdictional requirements substantially affects commerce II Section of the Sherman Act 39239 Per Se Violations v The rule of Reason gt Per se blantantly anticompetitive gt Rule of Reason I Factors 0 Purpose of arrangement 0 Power of the parties 0 Effect of their actions 0 Whether a less restrictive means might have accomplished the same result gt Thin line between both 39239 Section 1 horizontal restraints direct competitors gt Price fixing per se I US v SoconyVacuum Oil Co 1940 0 Major oil companies agreed to buy excess supplies from independent producers 0 With intent to limit the supply of gasoline on the market 0 May have been good reasons avoid temporary shortages gt Group boycotts I Agreement between 2 or more sellers I To refuse to deal with or boycott I A particular person or firm I Per se violation gt Horizontal market division I Divide up territories or customers gt Trade associations I Rule of reason generally applied I If trade accusation practice that restrains trade benefits association and the public may be deemed reasonable gt Joint ventures I Rule of reason generally applied I Unless price fixing or market divisions are involved 0 00 Section 1 Vertical Restraints between firms at different levels in distribution process gt Territorial or customer restrictions I To insulate dealers from direct competition with other dealers selling manufacturer s products I Manufacturer may institute territorial restrictions or attempt to ban wholesales or retailers from reselling product to certain classes of buyers I Rule of reason gt Resale price maintenance agreements I Manufacturer tells retailer at what price the retailer can sell the products I Subject to rule of reason 39239 Leegin Creative Leatherv PSKS Inc gt Leegin required resellers to sell brighton products at a minimum price gt PSKS was trying to sell below this price gt Leegin ceased selling products to PSKS I PSKS filed a suit claiming actions constituted antitrust gt Court of appeals upheld decision I Leegin appealed to supreme court gt Supreme court ruled in favor of Leegin Section 2 of the Sherman Act N Monopolization 1 possession of monopoly power in relevant market 2 willful acquisition or o maintenance of that power gt Monopoly power control by single entity I Power to control prices or exclude competition I Even if not the sole seller in the market I Courts look to at share of relevant market 0 Product market 0 Geographic market I 70 or more I Degree of interchangeability between products V Relevant market share of relevant market I Relevant product market IV The Clayton Act Specific practices that substantially reduce competition or could lead to monopoly power but not clearly prohibited by sherman act Enforeced by DC and FTC Private parties may sue for treble damages and attorney fees 0 v Section 2 price discrimination gt Exception when the different prices are due to differences in production transportation or other costs gt Effect of discrimination must be to substantially lessen competition 39239 Section 3 exclusionary practices gt Exclusive dealing contracts I Prohibited if it substantially lessens competition or tends to create a monopoly gt Tying arrangements I Depends on business purpose or effect I Services Sherman act section 1 commodities clayton act I Rule of reason 39239 Section 7 Mergers gt Horizontal mergers gt Vertical mergers gt Conglomerate mergers


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