Clayton Antitrust Act

Law
15 U.S.C. §§ 12 et seq.  | (1914)

Legal Definition of Clayton Antitrust Act 

law enacted to clarify and strengthen the Sherman Antitrust Act (1890). The vague language of the latter had provided large corporations with numerous loopholes, enabling them to engage in certain restrictive business arrangements which, though not illegal per se, resulted in concentrations that had an adverse effect on competition. Whereas the Sherman Act declared monopoly illegal, the Clayton Act defined in some detail varied types of illegal business practices that are conducive to the formation of monopolies or that result from them. Certain forms of holding companies and interlocking directorates are forbidden, as are discriminating freight agreements and the distribution of sales territories among so-called natural competitors. Two sections of the Clayton Act were later amended by the Robinson-Patman Act, 15 U.S.C. § 13c (1936), and the Celler-Kefauver Act, 15 U.S.C. § 18 (1950), to fortify its provisions. The Robinson-Patman Act, 15 U.S.C. §§ 13–13b, 21a (1988), made more enforceable section 2, which relates to price and other forms of discrimination among customers. The Celler-Kefauver Act strengthened section 7, prohibiting one firm from securing either the stocks or physical assets (i.e., plant and equipment) of another firm when the acquisition would reduce competition.

Learn More about Clayton Antitrust Act

Share Clayton Antitrust Act

Dictionary Entries near Clayton Antitrust Act

classification

class suit

clause

Clayton Antitrust Act

Cl. Ct.

CLE

clean

Comments on Clayton Antitrust Act

What made you want to look up Clayton Antitrust Act? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

by force of circumstances

Get Word of the Day daily email!

Test Your Vocabulary

Difficult Vocab Quiz

  • the-education-of-achilles-eugne-delacroix
  • Which is a synonym of discomfit?
True or False

Test your knowledge - and maybe learn something along the way.

TAKE THE QUIZ
Word Winder's CrossWinder

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!