The Clayton Act, codified in 15 U.S.C. §§ 12-27, supplements and clarifies the antitrust regulations under the Sherman Act. In particular, it prohibits certain types of conduct that substantially lessens competition, such as:

In addition, subject to some exceptions, the Clayton Act prohibits individuals from being a director for two or more competitors.

The Clayton Act provides for civil penalties that are enforced by the Federal Trade Commission (FTC) and the Antitrust Division of the Department of Justice (DOJ). Private parties are also permitted to sue for damages, including punitive damages, and injunctive relief if they are injured by conduct prohibited by this Act.

For more information on the Clayton Act, see Practice Note, US Antitrust Laws: Overview: Clayton Act.