The reasons why HR is important can vary depending on if you look at the issue from a manager or employee perspective. Below is a list of typical functions of a human resources department that will help you better understand the essential role of HR in a company. Why Is HR Important for Managers?
The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit abusive monopolies, and in some ways it remains the most important. Trusts and Monopolies. A trust was an arrangement by which stockholders in several companies transferred their shares to a single set of trustees.
In response to these monopolies, cartels, and trusts, Congress passed two major pieces of legislation: The Sherman Antitrust Act and the Clayton Act. The Sherman Antitrust Act. Passed in 1890, the Sherman Antitrust Act was the first major legislation passed to address oppressive business practices associated with cartels and oppressive monopolies. The Sherman Antitrust Act is a federal law prohibiting any contract, trust, or conspiracy in restraint of interstate or foreign trade. Even though the title of the act refers to trusts, the Sherman Antitrust Act actually has a much broader scope. It provides that no person shall monopolize, attempt to monopolize or conspire with another to monopolize interstate or foreign trade or commerce, regardless of the type of business entity. Penalties for violating the act can range from civil to criminal penalties; an individual violating these laws may be jailed for up to three years and fined up to $350,000 per violation.