Egt1 Task 3
1076 words 5 pagesAnthony J. La Salata
BS, Business Management 3/1/2012
Student I.D. #000254042
My Mentor: Nicole Sandburg
Arlington, WA –PST
A. Summarize the four major pieces of legislation collectively known as the Antitrust Laws.
United States antitrust law is a collection of federal and state government laws, which regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers. The main statute was the Sherman act of 1890, it is the basis for U.S. antitrust law, and many states have modeled their own statutes upon it. As weaknesses in the Sherman Act became evident, Congress added amendments to it at various times through 1950 the Clayton act of 1914, …show more content…
In many jurisdictions, competition laws restrict monopolies. Holding a dominant position or a monopoly of a market is often not illegal in itself, however certain categories of behavior can be considered abusive and therefore incur legal sanctions when a business is dominant. A government-granted monopoly or legal monopoly, by contrast, is sanctioned by the state, often to provide an incentive to invest in a risky venture or enrich a domestic interest group. Patents, copyright, and trademarks are sometimes used as examples of government granted monopolies. The government may also reserve the venture for itself, thus forming a government monopoly.
C. Explain the major functions of the three primary federal and state regulatory commissions that govern industrial regulation. The major functions of the three primary federal and state regulatory commissions that govern industrial regulation are: Antitrust policy which is laws and government actions designed to prevent monopoly and promote competition. Industrial regulation pertains to government regulation of firms’ and rates within selected industries. Social regulation is government regulation of the