The Sherman Antitrust Act was created in 1890 and amended in 1914 by the creation of two new antitrust laws, one act created the Federal Trade Commission (FTC) and the other created the Clayton Act. These three laws are still in effect today, “The Sherman Act outlaws every contract, combination, or conspiracy in restraint of trade, and any monopolization, attempted monopolization, or conspiracy or combination to monopolize. The Federal Trade Commission Act bans, unfair methods of competition and unfair or deceptive acts or practices. The Clayton Act addresses specific practices that the Sherman Act does not clearly prohibit, such as mergers and interlocking directorates (that is, the same person making business decisions for competing companies)” (“Guide to Antitrust Laws”, 2014). Antitrust laws and acts span across all industries and services provided by those industries, including Healthcare. Healthcare specific laws went into effect in 1993, which were further expanded and reinforced in September 1994 ( need help with this in text
The Sherman Antitrust Act was created in 1890 and amended in 1914 by the creation of two new antitrust laws, one act created the Federal Trade Commission (FTC) and the other created the Clayton Act. These three laws are still in effect today, “The Sherman Act outlaws every contract, combination, or conspiracy in restraint of trade, and any monopolization, attempted monopolization, or conspiracy or combination to monopolize. The Federal Trade Commission Act bans, unfair methods of competition and unfair or deceptive acts or practices. The Clayton Act addresses specific practices that the Sherman Act does not clearly prohibit, such as mergers and interlocking directorates (that is, the same person making business decisions for competing companies)” (“Guide to Antitrust Laws”, 2014). Antitrust laws and acts span across all industries and services provided by those industries, including Healthcare. Healthcare specific laws went into effect in 1993, which were further expanded and reinforced in September 1994 ( need help with this in text