Sherman Antitrust Act

noun

1. an act of Congress (1890) prohibiting any contract, conspiracy, or combination of business interests in restraint of foreign or interstate trade.

Sherman Antitrust Act

1. A federal law passed in 1890 that committed the American government to opposing monopolies . The law prohibits contracts , combinations, or conspiracies “in the restraint of trade or commerce.” Under the authority of the Sherman Antitrust Act, the federal government initiated suits against the Standard Oil Company and the American Tobacco Company. ( See trust busting .)

Word History and Origins

Origin of Sherman Antitrust Act¹

Named after John Sherman, who introduced the bill in Congress

Example Sentences

After US lawmakers passed the landmark Sherman Antitrust Act in 1890, they tweaked the law in 1914, 1936, and 1950 to keep up with all the new ways dominant businesses found to exploit their market power over the years.

From Quartz