USA HISTORY

Detailed explanation-1: -The Sherman Antitrust Act (Sherman Act, July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. 1–7) was the first United States Federal statute to limit cartels and monopolies.

Detailed explanation-2: -Section 2 of the Sherman Act makes it unlawful for any person to “monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations . . . ."

Detailed explanation-3: -Antitrust and competition laws seek to prevent the benefits of a competitive market from being undermined by anticompetitive practices. The Company’s Antitrust Policy places the responsibility of compliance with all applicable antitrust and competition laws on every director, officer, and employee.

Detailed explanation-4: -One of the act’s main provisions outlaws all combinations that restrain trade between states or with foreign nations. This prohibition applies not only to formal cartels but also to any agreement to fix prices, limit industrial output, share markets, or exclude competition.