United States Anti-Trust Law
Section 1 of the Sherman Antitrust Act governs all vertical restraints involving interstate commerce in the United States. Section 3 of the Clayton Act governs interbrand restraints involving the sale of “goods.” Finally, Section 2 of the Sherman Act governs restraints entered by monopolists. For several decades, courts were quite hostile to many vertical restraints, declaring them unlawful per se or nearly so. See, e.g., Albrecht v. Herald Co., 390 U.S. 145 (1969) (declaring maximum resale price maintenance unlawful per se). More recently, courts have reversed course and held that most such restraints should be analyzed under the rule of reason. See Leegin Creative Leather Products v. PSKS, 127 S. Ct. 2705 (2007); Continental TV v. GTE Sylvania, 433 U.S. 36 (1978).
Read more about this topic: Vertical Restraints
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—William Howard Taft (1857–1930)
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“I think we will live through his term, Archie, and I’ll tell you something, old man, if they don’t stop hammering me, first Bryan for not enforcing the Anti-Trust Law and Wall Street for enforcing it, they may succeed in electing me to another term whether I want it or not.”
—William Howard Taft (1857–1930)
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—Charles Sanders Peirce (1839–1914)