Sherman Antitrust Act

Sherman Antitrust Act

noun
an act of Congress (1890) prohibiting any contract, conspiracy, or combination of business interests in restraint of foreign or interstate trade.


Origin:
named after John Sherman, who introduced the bill in Congress

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Sherman Antitrust Act definition


A federal law passed in 1890 that committed the American government to opposing monopolies. The law prohibits contracts, combinations, or conspiracies “in the restraint of trade or commerce.” Under the authority of the Sherman Antitrust Act, the federal government initiated suits against the Standard Oil Company and the American Tobacco Company. (See trust busting.)

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
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