Clayton Antitrust Act (1914)

1) Link to the Text of the Act
Read the statute (15 U.S.C. §§ 12–27)

2) Why It Was Done
The Clayton Act was enacted to strengthen and clarify antitrust laws after weaknesses in the Sherman Act became evident. It specifically addressed price discrimination, exclusive dealings, mergers, and interlocking directorates.

3) Pre-existing Law or Constitutional Rights
The Sherman Antitrust Act (1890) prohibited monopolization but lacked detail. Courts often interpreted it narrowly. The Clayton Act provided more explicit rules and added teeth to federal antitrust enforcement.

4) Overreach or Proper Role?
Supporters consider it a necessary refinement of antitrust protections. Businesses have sometimes criticized it for limiting legitimate corporate strategies and efficiencies.

5) Who or What It Controls

• Corporations and business entities engaged in interstate commerce
• Corporate directors (restricted from serving simultaneously on competing boards)
• Mergers and acquisitions that may lessen competition

6) Key Sections / Citations

• 15 U.S.C. § 13 (price discrimination – Robinson-Patman Act amendments)
• 15 U.S.C. § 18 (mergers and acquisitions)
• 15 U.S.C. § 19 (interlocking directorates)

7) Recent Changes or Live Controversies

• Continues to be a foundation for merger review and enforcement by DOJ and FTC
• Recent debates center on how to apply the Act to big tech mergers, digital platforms, and vertical integration
• Robinson-Patman enforcement has declined but remains on the books

8) Official Sources

• U.S. Code – Title 15, Chapter 1
• Federal Trade Commission – Clayton Act Overview
• DOJ Antitrust Division

• Antitrust
• Competition
• Business
• Commerce
• Labor Unions