Basic Antitrust and Trade Regulation Statutes

• Pages: 1-54

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BASIC ANTITRUST AND

TRADE REGULATION STATUTES

Sherman Act

Section 1 of the Sherman Act, 15 U.S.C. § 1

Every contract, combination in the form of trust or otherwise, or

conspiracy, in restraint of trade or commerce among the several States,

or with foreign nations, is declared to be illegal. Every person who shall

make any contract or engage in any combination or conspiracy hereby

declared to be illegal shall be deemed guilty of a felony, and, on

conviction thereof, shall be punished by fine not exceeding $100,000,000

if a corporation, or, if any other person, $1,000,000, or by imprisonment

not exceeding 10 years, or by both said punishments, in the discretion of

the court.

Section 2 of the Sherman Act, 15 U.S.C. § 2

Every person who shall monopolize, or attempt to monopolize, or

combine or conspire with any other person or persons, to monopolize any

part of the trade or commerce among the several States, or with foreign

nations, shall be deemed guilty of a felony, and, on conviction thereof,

shall be punished by fine not exceeding $100,000,000 if a corporation,

or, if any other person, $1,000,000, or by imprisonment not exceeding 10

years, or by both said punishments, in the discretion of the court.

Section 3 of the Sherman Act, 15 U.S.C. § 3

(a) Every contract, combination in form of trust or otherwise, or

conspiracy, in restraint of trade or commerce in any Territory of the

United States or of the District of Columbia, or in restraint of trade or

commerce between any such Territory and another, or between any such

Territory or Territories and any State or States or the District of

Columbia, or with foreign nations, or between the District of Columbia

and any State or States or foreign nations, is declared illegal. Every

person who shall make any such contract or engage in any such

2 HANDBOOK OF U.S. ANTITRUST SOURCES

combination or conspiracy, shall be deemed guilty of a felony, and, on

conviction thereof, shall be punished by fine not exceeding $100,000,000

if a corporation, or, if any other person, $1,000,000, or by imprisonment

not exceeding 10 years, or by both said punishments, in the discretion of

the court. (b) Every person who shall monopolize, or attempt to

monopolize, or combine or conspire with any other person or persons, to

monopolize any part of the trade or commerce in any Territory of the

United States or of the District of Columbia, or between any such

Territory and another, or between any such Territory or Territories and

any State or States or the District of Columbia, or with foreign nations, or

between the District of Columbia, and any State or States or foreign

nations, shall be deemed guilty of a felony, and, on conviction thereof,

shall be punished by fine not exceeding $100,000,000 if a corporation, or,

if any other person, $1,000,000, or by imprisonment not exceeding 10

years, or by both said punishments, in the discretion of the court.

Section 4 of the Sherman Act, 15 U.S.C. § 4

The several district courts of the United States are invested with

jurisdiction to prevent and restrain violations of [this Act]; and it shall be

the duty of the several United States attorneys, in their respective

districts, under the direction of the Attorney General, to institute

proceedings in equity to prevent and restrain such violations. Such

proceedings may be by way of petition setting forth the case and praying

that such violation shall be enjoined or otherwise prohibited. When the

parties complained of shall have been duly notified of such petition the

court shall proceed, as soon as may be, to the hearing and determination

of the case; and pending such petition and before final decree, the court

may at any time make such temporary restraining order or prohibition as

shall be deemed just in the premises.

Section 5 of the Sherman Act, 15 U.S.C. § 5

Whenever it shall appear to the court before which any proceeding

under section 4 of this [Act] may be pending, that the ends of justice

require that other parties should be brought before the court, the court

may cause them to be summoned, whether they reside in the district in

which the court is held or not; and subpoenas to that end may be served

in any district by the marshal thereof.

BASIC ANTITRUST AND TRADE REGULATION STATUTES 3

Section 6 of the Sherman Act, 15 U.S.C. § 6

Any property owned under any contract or by any combination, or

pursuant to any conspiracy (and being the subject thereof) mentioned in

section 1 of this [Act], and being in the course of transportation from one

State to another, or to a foreign country, shall be forfeited to the United

States, and may be seized and condemned by like proceedings as those

provided by law for the forfeiture, seizure, and condemnation of property

imported into the United States contrary to law.

Section 6a of the Sherman Act, 15 U.S.C. § 6a*

[This Act] shall not apply to conduct involving trade or commerce

(other than import trade or import commerce) with foreign nations

unless—

(1) such conduct has a direct, substantial, and reasonably foreseeable

effect—

(A) on trade or commerce which is not trade or commerce with

foreign nations, or on import trade or import commerce with

foreign nations; or

(B) on export trade or export commerce with foreign nations, of a

person engaged in such trade or commerce in the United States;

and

(2) such effect gives rise to a claim under the provisions of [this

Act], other than this section.

If [this Act applies] to such conduct only because of the operation of

paragraph (1)(B), then [this Act] shall apply to such conduct only for

injury to export business in the United States.

Section 7 of the Sherman Act, 15 U.S.C. § 7

The word “person,” or “persons,” wherever used in [this Act] shall

be deemed to include corporations and associations existing under or

* This is the Export Trading Company Act, Pub. L. No. 97-290, 96 Stat.

1246 (1982), amendment to the Sherman Act.