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CLAYTON ACT: This antitrust law passed in 1914 outlawed specific practices designed to monopolize a market including price discrimination, exclusive agreements, tying contracts, mergers, and interlocking directorates. The Clayton Act was one of three major antitrust laws passed in the late 1800s and early 1900s. The other two were the Sherman Act and the Federal Trade Commission Act. The specific practices outlawed were designed to correct flaws of the Sherman Act, especially vague wording about what constituting a monopoly. Moreover, while the Sherman Act outlawed monopoly after it emerged, the Clayton Act made practices that gave rise to monopoly control illegal.
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HORIZONTAL MERGER The consolidation of two or more separately-owned businesses, operating in the same industry and producing competing products, into a single firm. This is one of three types of mergers. The other two are vertical merger--two firms in different stages of the production of one good--and conglomerate merger--two firms in separate, unrelated industries.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a flea market seeking to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"It is not because things are difficult that we do not dare; it is because we do not dare that they are difficult. " -- Seneca, statesman, dramatist, philosopher
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TP
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