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Level 129

Regulation of Corporate Behavior & Structure


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Voting trust
Legal device which a few persons could control leading firms in an industry through voting rights of the firms' stock
Divestiture orders
Court orders requiring firms to separate to undo the merger
Dissolution orders
Court orders requiring a monopolist form to split up into several firms
Consent decrees
Settlement agreements allowing firms to cease allegedly anticompetitive conduct without admitting to a violation fo the law
Rule of reason
Judicial approach to antitrust law that holds certain conduct illegal only if it unreasonable constrict competition
per se Rule
Judicial approach to antitrust law that holds certain conduct to be illegal regardless of its actual effect on competition
Momopoly
A single from that is the sole supplier of a product, a firm that has power over supply and price
Product Market
All the reasonably interchangeable products that may be substituted for a particular product
Geographic market
The area of the country in which a firm exercises market power
Oligopoly
Market in which only a few firms compete with one another, and entry by new firms is impeded
Conscious parallelism
Firms acting independently, but similar to their rivals
Concerted Activity
Firms acting together, or collectively
Conglomerate mergers
Mergers that are neither horizontal or vertical
Vertical restrictions
Restrictions imposed by a manufacturer or supplier on firms that distribute the product
Tying arrangement
Vertical restriction that conditions the sale of one product upon the sale of a different product
Exclusive dealing arrangement
Agreement prohibiting a firm from dealing with the suppliers of a particular product
Intrabrand competition
Competition among dealers of a particular brand or product
Interbrand competition
Competition among all the dealers of a product
Price Discrimination
Charging different customers different prices for the same product
State action doctrin
An exemption from the antitrust laws when government regulation requires the conduct in question