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Vijay Menon is a chemical engineer working for Mega Labs Ltd., an international pharmaceutical company, developing a machine designed to analyze chemicals in the blood. The aim of the project is a machine which can analyze up to three chemicals simultaneously. Working on his own time in his laboratory at home, Vijay was able to develop a machine which can analyze six chemicals simultaneously. He applies for patent. Which of the following is true?
Antitrust Violations
Activities or agreements that restrain trade or competition, violating laws designed to maintain market fairness and protect consumers.
Federal Trade Commission
A United States government agency tasked with promoting consumer protection and eliminating and preventing anticompetitive business practices.
Clayton Act
A U.S. antitrust law, enacted in 1914, aimed at promoting fair competition and preventing monopolies by prohibiting certain actions that could lead to anticompetitive practices.
Anticompetitive Behavior
Practices by businesses that unfairly restrict competition in the marketplace, often scrutinized and regulated by antitrust laws.
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