Anti-Trust Laws

The Sherman Antitrust Act continues to protect the United States businesses as shown through the disablement of AT&T, Kodak, and Standard Oil.

A monopoly is complete control of the entire supply of goods or of a service in a certain area or market.

Antitrust laws are were laws created in order to stop monopolies in order to create fair competition for smaller businesses.

Standard Oil Company was founded in 1863 by J.D Rockefeller. In 1870, Rockefeller bought up all the other oil companies and formed on big company. This caused the American government to file a suit against Standard Oil. The company was eventually split into 34 different companies in order to create fair competition within the oil business.

Founded in 1885, AT&T was the first long distance telephone company in the United States. In the late 1800s telephones were becoming popular, but were difficult to use. AT&T was created in order to make using the telephone easier. They were able to make this into a monopoly. Because of their growing success and control of the telephone market the Justice Department filed a Suit against Standard Oil. The company was later split into 7 different companies.

One of the biggest camera companies, Kodak, was founded in 1881 by George Eastman. Kodak controlled over 97% of the market so in 1970 companies started suits against Kodak. Eventually the company was brought down after found guilty of violating the Sherman anti trust laws.

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Created with images by JeepersMedia - "AT&T Sign Logo "AT&T" #AT&T Sign" #ATT #ATandT #ATTStore Logo Sign Pics by Mike Mozart of TheToyChannel and JeepersMedia on Youtube."

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