The Main Rules and Provisions of the American Competition Law and its Applications
Dr. Hamouda Fathi Hamuouda
Associate Professor of Commercial Law
Higher Judicial Institute Sultanate of Oman
Dr. Saleh Hamed Albarashdi
Associate Professor of Commercial Law
Faculty of Law – Sultan Qaboos University
Abstract:
This research deals with the most important rules and provisions of US competition law and its applications. From the beginning of the last century until now, the United States was the first economic power in the world which enacted competition laws. The laws of competition and antitrust in the United States began in 1890 with the Sherman Act, Federal Trade Act of 1914, then the Robinson-Batman Act of 1936, and after then amendments and issuances of laws continued until 2010.
Despite the enactment of various laws, there are still aspects of US competition laws that are unclear, obscure and vague. For instance, the American law did not specify clearly restrictive practices of competition and left this to the jurisprudence and the court that set flexible definitions of such practices and provide examples of such practices. Such as: restrictive agreements on competition, monopoly, economic means of acquisition, merger, trust union, Traders union, and joint concentration projects.
Having a sufficient competition law is not enough. This is a need for a competent judiciary system capable of implementing these laws. This paper aims to explore the American experience in the legal regulation of competition, and to see the legislative developments in the US laws on the reduction of monopolistic practices. It also aims to clarify the position of the US judiciary on certain practices that are harmful to competition, and its vision on defining restrictive practices to competition in the US market.
Keywords: Prevention of monopoly, regulation of competition, Sherman Act, Clayton Law, Market control.