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2002 E
Chapter 4
The Legal and Political Environment
Prepared by John T. Drea, Western Illinois University
Business-Related Legislation:
The Focus Is on Three Areas
1. Protect
Protect companies
companies from
from each
each other
other
1.
2. Protect
Protect consumers
consumers
2.
3. Protect
Protect the
the interests
interests of
of society
society
3.
Enforcement Issues
Some agencies are independent
Consumer Product Safety Commission,
Federal Trade Commission are two examples
of independent agencies.
1920
1900
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13
Intercorporate
Stockholding
Business
Legislation
Issues
Interlocking
Directorates
Price
Maintenance
Price
Discrimination
Resale
Restrictions
Refusal to Deal
14
Intercorporate
Intercorporate
Stockholding
Stockholding
Interlocking
Interlocking
Directorates
Directorates
Price
Price
Maintenance
Maintenance
Refusalto
toDeal
Deal
Refusal
18
Resale
Resale
Restrictions
Restrictions
19
Price
Price
Discrimination
Discrimination
20
Pacific Drives
21
Pacific Drives
22
23
Substantiality Test
Business regulation is not characterized by
precision, since enforcement is discretionary.
Violation are subject to a substantiality test it
has three considerations:
The size of the organizations involved (is a large
business coercing behavior from a small
business?)
The volume of business involved (is the volume
of business large compared to the total market?)
Market preemption (preventing access to
markets)
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