The Antitrust Laws: A Primer PDF
Preview The Antitrust Laws: A Primer
FOURTH EDITION THE ANTITRUST LAWS A PRIMER JOHN H. SHENEFIELD & IRWIN M. STELZER The Antitrust Laws The Antitrust Laws A Primer Fourth Edition John H. Shenefield and Irwin M. Stelzer The AEI Press Publisher for the American Enterprise Institute WASHINGTON, D.C. 2001 Available in the United States from the AEI Press, c/o Publisher Resources Inc., 1224 Heil Quaker Blvd., P.O. Box 7001, La Vergne, TN 37086-7001. To order, call toll free 1-800-269-6267. Distributed outside the United States by arrangement with Eurospan, 3 Henrietta Street, London WC2E 8LU, England. Library of Congress Cataloging-in-Publication Data Shenefield, John H. The antitrust laws : a primer / John H. Shenefield and Irwin M. Stelzer.—4th ed. p. cm. Includes bibliographical references and index. ISBN 0-8447-4154-X (cloth: alk. paper) 1. Antitrust law—United States. I. Stelzer, Irwin M. II. Title. KF1650.S53 2001 343.73'0721—dc21 2001045088 1 3 5 7 9 10 8 6 4 2 © 2001 the American Enterprise Institute for Public Policy Research, Washington, D.C. All rights reserved. No part of this publication may be used or reproduced in any manner whatsoever without permission in writing from the American Enterprise Institute except in the case of brief quotations embodied in news articles, critical articles, or reviews. The views expressed in the publications of the American Enterprise Institute are those of the authors and do not necessarily reflect the views of the staff, advisory panels, officers, or trustees of AEI. The AEI Press Publisher for the American Enterprise Institute 1150 17th Street, N.W., Washington, D.C. 20036 Printed in the United States of America iv For Judy and Cita, who made what we like to think was the sacrifice of our company so that we might unburden ourselves of this tract. Contents ACKNOWLEDGMENTS xi 1 INTRODUCTION 1 2 THE ORIGINS AND OBJECTIVES OF ANTITRUST 5 Philosophical Origins 5 Historical Background 7 Objectives of the Antitrust Laws 10 3 THE STATUTES 15 The Sherman Act 15 The Clayton Act 20 The Federal Trade Commission Act 22 4 THE INSTITUTIONS AND PROCEDURES 24 Picking Targets 26 Criminal Prosecutions 27 Going to Court 28 Settlements 29 vii CONTENTS 5 THE ANALYTICAL FRAMEWORK: MARKETS AND MARKET POWER 30 The Product Market 31 The Geographic Market 32 The Competitors 32 Market Power 33 6 UNILATERAL ACTIVITY 36 Attempt to Monopolize 38 Monopolization 40 7 COMPETITORS 44 Price-Fixing 45 Market Division 50 Collective Refusals to Deal 52 Joint Ventures and Other Horizontal Agreements 54 8 MERGERS AND ACQUISITIONS 57 Premerger Notification Procedures 58 Horizontal Mergers 61 Vertical Mergers 67 Conglomerate Mergers 68 9 RELATIONS WITH CUSTOMERS 71 Vertical Price Restraints 72 Vertical Nonprice Restraints 76 Tying Arrangements 77 Exclusive Dealing 80 Price Discrimination 81 Vertical Refusals to Deal 83 viii CONTENTS 10 INTELLECTUAL PROPERTY 85 Analysis of Antitrust Claims 91 Acquisition of Intellectual Property Rights 94 Enforcement of Intellectual Property Rights 95 Licensing 99 11 COMPLEMENTARY REGIMES 108 State Antitrust Enforcement 108 Private Actions 111 12 INTERNATIONAL ANTITRUST ENFORCEMENT 114 U.S. Enforcement Abroad 115 European Union Enforcement 120 Antitrust Enforcement by EU Member States 127 Canadian Antitrust Enforcement 129 International Merger Notification 131 International Antitrust Enforcement Cooperation 132 13 COMPLIANCE 137 Written Guidelines 138 Compliance Sessions 139 Documents 140 Periodic Audits 143 14 SOME COMMON-SENSE GUIDELINES 145 15 EPILOGUE 149 ix
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