Sherman Antitrust Act


noun

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

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Origin of Sherman Antitrust Act

named after John Sherman, who introduced the bill in Congress
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

Cultural definitions for sherman antitrust act

Sherman Antitrust Act

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.)

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.