Blaw Ch 26

Front 1

Noerr-Pennington doctrine

Back 1

A series of cases that permits competitors to lobby for changes in the law to gain greater protection from competition.

Front 2

antitrust law

Back 2

The body of federal and state laws and statutes protecting trade and commerce from unlawful restraints, price discrimination, price fixing, and monopolies. The principal federal antitrust statues are the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914.

Front 3

attempt to monopolize

Back 3

Any actions by a firm to eliminate competition and gain monopoly power.

Front 4

dissolution

Back 4

The formal disbanding of a partnership or a corporation. It can take place by (1) acts of the partners or, in a corporation, of the shareholders and board of directors; (2) the death of a partner; (3) the expiration of a time period stated in a partnership agreement or a certificate of incorporation; or (4) judicial decree.

Front 5

divestiture

Back 5

The act of selling one or more of a company's parts, such as a subsidiary or plant; often mandated by the courts in merger or monopolization cases.

Front 6

market power

Back 6

The power of a firm to control the market price of its product. A monopoly has the greatest degree of market power.

Front 7

monopolization

Back 7

The possession of monopoly power in the relevant market and the willful acquisition or maintenance of the power, as distinguished from growth or development as a consequence of a superior product, business acumen, or historic accident.

Front 8

monopoly

Back 8

A term generally used to describe a market in which there is a single seller or a limited number of sellers.

Front 9

monopoly power

Back 9

The ability of a monopoly to dictate what takes place in a given market.

Front 10

predatory pricing

Back 10

The pricing of a product below cost with the intent to drive competitors out of the market.

Front 11

price discrimination

Back 11

Setting prices in such a way that two competing buyers pay two different prices for an identical product or service.

Front 12

restraint of trade

Back 12

Any contract or combination that tends to eliminate or reduce competition, effect a monopoly, artificially maintain prices, or otherwise hamper the course of trade and commerce as it would be carried on if left to the control of natural economic forces.

Front 13

treble damages

Back 13

Damages consisting of single damages determined by a jury and tripled in amount in certain cases as required by statute.

Front 14

trust

Back 14

An arrangement in which title to property is held by one person (a trustee) for the benefit of another (a beneficiary).