+ section 1: no contracts/conspiracies to reduce trade + section 2: no becoming a monopoly
mergers ok unless becoming a monopoly + led to a big rise in mergers
1987 case against railways who had agreements on price 1911 ruled that retail price maintenance illegal
standard oil seen to have reduced prices locally to keep competitors out. + acquired minor firms + judged to have been against 1 and 2
standard tobacco
terminal railroad + railway firms owned terminal facilities at ports + ruling to give access to competitors on reasonable terms
aimed at addressing mergers which increased monopoly power also has rules against price discrimination? allows for triple damages + fees amended by robinson patman act 1936 amended by celler-kefauver act 1950 amended by hard-scott-rodino act 1976
set up FTC, independent regulates trade practices along with department of justice (DoJ) (gov)