On The Antitrust Consent Settlement Of The United States

Antitrust action settlement in the U.S. is the outcome of the mutual effects ofeconomics, politics and cultures.The reason why this system has its birth anddevelopment is that the deterrent and punitive nature in the structuralism of AntitrustLaw has gradually cornered the enforcement of law and the development ofeconomics.‘Rule of reason’ has been established while the application of Sherman Actgets mature, giving rise to a great number of settlements of antitrust cases duringinvestigation and trial. As the system of law becomes perfect and the practice of lawsophisticated, the enforcement of antitrust law in the U.S. has stepped into‘Behaviorism’ age, the major concern of which is efficiency, and this change,attributed to the school of Chicago, has led to the well running of antitrust actionsettlement system.Nowadays, the purpose of antitrust action settlement system in theU.S. is to balance and integrate three different kinds of values, i.e. liberty, justice andefficiency, and efficiency is dominant one.Antitrust action settlement system consistsof two parts: administrative reconciliation by public enforcement agency and privatereconciliation by private parties. The former is qualified to protect public welfare anddeter violators, and the latter to well complement the former which proves to beinefficient and costly.The most common way of antitrust reconciliation in the U.S. is‘Consent Decree’ or ‘Consent Verdict’, and more than90%of American antitrustcases are solved in reconcilable background. A charming characteristic of Americanantitrust settlement system is the examination for public interests by judicial systemand the supervision of ‘Consent Decree’ or ‘Consent Verdict’ by public, keeping guardfor the interested parties, consumers and public.‘Merger review for the joint venture’and ‘the policy of leniency’ are of reference for many countries in this world, andChina is no exception. Furthermore, parties being treated equal in American antitrustsettlement, even an enforcement agency,while assuring public welfare, in this processmust be placed on the same starting line as respondents or defendants. America’santitrust settlement system has layed an enlightenment on China.Our country shouldset up an independent businessman commitment censoring institution and superviseantitrust administrative settlement in all domains.