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Trust

  • Trust is a set of companies that are managed by a small group known as trustees
  • Also known as "Robber Barons"
  • Began during 2nd Industrial Revolution
  • Trusts were able to manipulate price and quality without regarding to the laws of supply and demand
  • Trustees have the power to prevent companies in the trust from competing with each other

Corporations and the Rise of Trust and Monopolies

Causes and Effects

  • When a company/corporation eliminates its competition, the company becomes a monopoly

Monopoly

  • Monopoly is a single company or corporation that dominates a particular industry
  • Ex. Standard Oil (1882), Microsoft, Long Island Railroad, J.P. Morgan
  • As businesses expanded, companies/ corporations were looking to dominate competition.

Introduction

Corporations

  • Businesses were undergoing major changes in the 1890's
  • Business owners devised plans to reduce competition
  • Monopoly and Trust
  • A corporation recognized by law to exist independently from its owners, with the ability to own property, borrow money, sue, or be sued
  • Ex. AT&T, Ford Motor Company, H&M

Monopoly Cont.

  • Horizontal Integration is a corporate expansion strategy that involves joining together as many firms from the same industry as possible
  • Ex. Apple, Pepsi, Volkswagen
  • Vertical Integration is a corporate expansion strategy that involves controlling each step in the production and distribution of a product, from acquiring raw materials to manufacturing , packaging, and shipping
  • Ex. 20th Century Fox, Exxon Mobil
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