A N T I T R U S T M O D E R N I Z A T I O ... - ncbfaa

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THE ANTITRUST MODERNIZATION COMMISSIONDeborah A. GarzaChairBobby R. BurchfieldCommissionerW. Stephen CannonCommissionerDennis W. CarltonCommissionerMakan DelrahimCommissionerJonathan M. JacobsonCommissionerJonathan R. YarowskyVice-ChairDonald G. Kempf, Jr.CommissionerSanford M. LitvackCommissionerJohn H. ShenefieldCommissionerDebra A. ValentineCommissionerJohn L. WardenCommissionerCOMMISSION STAFFAndrew J. HeimertExecutive Director and General CounselSusan S. DeSantiSenior CounselWilliam F. Adkinson, Jr.CounselSylvia BooneAdministrative OfficerChristopher N. BryanParalegalNadine JonesCounselMarni B. KarlinCounselHiram R. AndrewsLaw ClerkKristen M. GorzelanyParalegalAlan E. MeeseSenior AdvisorDarren BushAdvisorGeorge P. SloverAdvisorMichael W. KlassEconomics AdvisorAndrew I. GavilAdvisorxiv
T ABLE OF CONTENTSIntroduction and Recommendations ........................................................1I. Substantive Standards of Antitrust LawA. Antitrust Law and the “New Economy” ............................................31B. Substantive Merger Law ...........................................................47C. Exclusionary Conduct ..............................................................81D. Antitrust and Patents .............................................................117II. Enforcement Institutions and ProcessesA. Dual Federal Enforcement ........................................................129B. The Hart-Scott-Rodino Act Pre-Merger Review Process ..........................151C. State Enforcement of Antitrust Laws. ............................................185D. International Antitrust Enforcement ..............................................213III. Civil and Criminal RemediesA. Private Monetary Remedies and Liability Rules. .................................241B. Indirect Purchaser Litigation .....................................................265C. Government Civil Monetary Remedies ...........................................285D. Criminal Remedies ...............................................................293IV. Government Exceptions to Free-Market CompetitionA. The Robinson-Patman Act ........................................................311B. Immunities and Exemptions, Regulated Industries,and the State Action Doctrine ....................................................333Separate Statements of CommissionersCommissioners Burchfield, Delrahim, Jacobson, Kempf,Litvack, Valentine, and Warden ...................................................395Commissioner Carlton ...............................................................398Commissioner Delrahim. .............................................................403Commissioner Jacobson .............................................................412Commissioner Kempf ................................................................428Commissioner Shenefield. ...........................................................442Commissioner Warden ...............................................................444AppendicesA. Relevant Statutes ................................................................A.1B. Antitrust Modernization Commission Hearings ..................................A.43C. Comments Received by the Antitrust Modernization Commission ..............A.51D. Biographies of Commissioners and Commission Staff ..........................A.65xv
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