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Incipiency

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“Incipiency” is the term describing the test by which mergers, acquisitions, and certain anticompetitive practices are prohibited under the Clayton Antitrust Act 1 when the effect may be substantially to lessen competition or tend to create a monopoly. Properly applied, the incipiency test can satisfy demands that are coming from across the political spectrum to strengthen antitrust enforcement. If the Act needs to be clarified in order to assure proper application, there are means available to achieve greater clarity.