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Authorization of the Sherman Antitrust Act
This legislation, written by Sen. John Sherman, R-Ohio, and signed by President Harrison, aimed to stop companies from monopolizing (or oligopolizing) a market. This was alleged to have been done through trusts, in which the monopolizing company would convince or coerce shareholders of other companies to entrust their shares to a board of trustees in exchange for dividend payments.
Although the act didn’t define exactly what a monopoly and a trust were, they’ve been left up to the interpretation of the executive and judicial branches. Most recently, AT&T Inc. lost an antitrust case with the Department of Justice to buy T-Mobile USA Inc.