Standard Oil Co. of New Jersey v. United StatesStandard Oil Co. of New Jersey v. United States, 221 U.S. 1 (1911), was a landmark U.S. Supreme Court decision that ruled that John D. Rockefeller's petroleum conglomerate Standard Oil had illegally monopolized the American petroleum industry and ordered the company to break itself up. The decision also held, however, that U.S. antitrust law bans only "unreasonable" restraints on trade, an interpretation that came to be known as the "rule of reason".
United States antitrust lawIn the United States, antitrust law is a collection of mostly federal laws that govern the conduct and organization of businesses in order to promote economic competition and prevent unjustified monopolies. The three main U.S. antitrust statutes are the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914.
Title 15 of the United States CodeTitle 15 of the United States Code outlines the role of commerce and trade in the United States Code. Notable legislation in the title includes the Federal Trade Commission Act, the Clayton Antitrust Act, the Sherman Antitrust Act, the Securities Exchange Act of 1934, the Consumer Product Safety Act, and the CAN-SPAM Act of 2003. 15 U.S.C.ch. 1—Monopolies and Combinations in Restraint of Trade; 15 U.S. Code § 13a is the Robinson Patman Act15 U.S.C.ch.
United States Department of JusticeThe United States Department of Justice (DOJ) is an executive department of the United States federal government that oversees the domestic enforcement of federal laws and the administration of justice. It is equivalent to the justice or interior ministries of other countries. The department is headed by the United States attorney general, who reports directly to the president of the United States and is a member of the president's Cabinet.
Clayton Antitrust Act of 1914PersonalEarly lifeBoyhood homeSouth Carolina homeWashington, D.C. houseRace relationsWilsonian idealism ("The Study of Administration")34th Governor of New Jersey1910 electionGovernorship28th President of the United StatesPresidencytimelineTransitionInaugurations firstsecondJudicial appointmentsSupreme CourtForeign policyTenureWomen's suffrageprocessionSilent SentinelsFederal Reserve ActClayton Antitrust ActFederal Trade CommissionUnited States occupation of VeracruzCoalfield WarDaylight saving timeBanana WarsLouis Brandeis Supreme Court nomination18th Amendment19th AmendmentWorld War IZimmermann telegramThrasher incidentEntryAgainst Austria-HungaryAgainst GermanyHome frontEspionage ActFourteen PointsWilsonian ArmeniaParis Peace ConferenceBig FourTreaty of VersaillesLeague of NationsPresidential campaigns1912 electionconventionThe New Freedom1916 electionconventionLegacyMemorialsNeo-Wilsonian idealismPrinceton School of Public and International AffairsWilson CenterPresidential LibraryThe Clayton Antitrust Act of 1914 (Pub.
United States CongressThe United States Congress is the legislative branch of the federal government of the United States. It is a bicameral legislature, including a lower body, the U.S. House of Representatives, and an upper body, the U.S. Senate. They both meet in the United States Capitol in Washington, D.C. Members of Congress are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment.
John ShermanJohn Sherman (May 10, 1823 – October 22, 1900) was an American politician from Ohio who served in federal office throughout the Civil War and into the late nineteenth century. A member of the Republican Party, he served in both houses of the U.S. Congress. He also served as Secretary of the Treasury and Secretary of State. Sherman sought the Republican presidential nomination three times, coming closest in 1888, but was never chosen by the party.
United States Statutes at LargeThe United States Statutes at Large, commonly referred to as the Statutes at Large and abbreviated Stat., are an official record of Acts of Congress and concurrent resolutions passed by the United States Congress. Each act and resolution of Congress is originally published as a slip law, which is classified as either public law (abbreviated Pub.L.) or private law (Pvt.L.), and designated and numbered accordingly.
MonopolyMarket structure with a single firm dominating the marketA monopoly (from Greekμόνος, mónos, 'single, alone' and πωλεῖν, pōleîn, 'to sell') is a market in which one person or company is the only supplier of a particular good or service.
LawsuitA lawsuit is a proceeding by one or more parties (the plaintiff or claimant) against one or more parties (the defendant) in a civilcourt of law. The archaic term "suit in law" is found in only a small number of laws still in effect today. The term "lawsuit" is used with respect to a civil action brought by a plaintiff (a party who claims to have incurred loss as a result of a defendant's actions) who requests a legal remedy or equitable remedy from a court.
Treble damagesIn United States law, treble damages is a term that indicates that a statute permits a court to triple the amount of the actual/compensatory damages to be awarded to a prevailing plaintiff. Treble damages are usually a multiple of, rather than an addition to, actual damages, but on occasion they are additive, as in California Civil Code § 1719.
InjunctionAn injunction is an equitable remedy in the form of a special court order compelling a party to do or refrain from doing certain acts. It was developed by the English courts of equity but its origins go back to Roman law and the equitable remedy of the "interdict". "When a court employs the extraordinary remedy of injunction, it directs the conduct of a party, and does so with the backing of its full coercive powers."*As an Amazon Associate I earn from qualifying purchases.