In 1911,Standard Oil Co

question 102

Short Answer

In 1911,Standard Oil Co.was declared a monopoly by the government under the Sherman Act and the company was ordered to break itself up into competing companies.Two oil companies,Exxon and Mobil,were the result of this breakup.A few years ago,Exxon and Mobil merged again to form ExxonMobil Corporation.Why did the government allow this merger now?

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Definitions:

Apparent Authority

A situation where a person appears to have been given the power to act on behalf of another, leading third parties to reasonably believe in that authority.

Actual Authority

Legal power that an agent has been deliberately given by a principal to act on their behalf in business dealings.

Limited Liability Partnerships (LLPs)

A form of partnership in which some or all partners have limited liabilities, protecting personal assets from business debts and liabilities.

Incorporation

The process of legally defining a company as a separate entity from its owners, providing limited liability and other benefits.