We use cookies to improve security, personalize the user experience,
enhance our marketing activities (including cooperating with our marketing partners) and for other
business use.
Click "here" to read our Cookie Policy.
By clicking "Accept" you agree to the use of cookies. Read less
Understanding the Webb-Pomerene Act: A Key Exemption in Antitrust Law
Definition & Meaning
The Webb-Pomerene Act, enacted in 1918, is a U.S. law that provides certain companies with immunity from antitrust laws. This act was designed to encourage cooperative activities among businesses engaged in foreign trade, allowing them to collaborate without fear of violating antitrust regulations. The exemptions granted under this act were initially applicable until 1920, during which the Federal Trade Commission (FTC) offered stays of investigation for qualifying companies.
Table of content
Legal Use & context
The Webb-Pomerene Act is primarily relevant in the context of antitrust law, which seeks to prevent monopolistic practices and promote competition. This act is particularly significant for businesses involved in international trade, as it allows them to form associations and conduct joint activities without the risk of antitrust prosecution. Users may find legal forms related to business cooperation and antitrust compliance useful when navigating these regulations.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
For instance, a group of agricultural exporters may form a cooperative under the Webb-Pomerene Act to collectively market their products overseas. This collaboration allows them to share resources and reduce costs while remaining compliant with antitrust regulations.
(hypothetical example) A technology firm may join forces with other companies to develop a new software product for international markets, benefiting from the protections offered by the Webb-Pomerene Act.
Relevant laws & statutes
The primary statute related to the Webb-Pomerene Act is the Clayton Antitrust Act of 1914, which laid the groundwork for U.S. antitrust laws. The Webb-Pomerene Act serves as an exemption to certain provisions of the Clayton Act, specifically concerning cooperative activities in foreign trade.
Comparison with related terms
Term
Description
Difference
Clayton Antitrust Act
A law aimed at preventing anticompetitive practices.
The Webb-Pomerene Act provides exemptions for certain cooperative activities in foreign trade.
Antitrust Laws
Laws designed to promote competition and prevent monopolies.
The Webb-Pomerene Act allows specific exemptions for qualifying companies engaged in international trade.
Common misunderstandings
What to do if this term applies to you
If you believe your business activities may qualify for exemptions under the Webb-Pomerene Act, consider consulting with a legal professional who specializes in antitrust law. Additionally, you can explore US Legal Forms for templates that may assist in compliance and documentation related to cooperative business activities.
Find the legal form that fits your case
Browse our library of 85,000+ state-specific legal templates.