A dominating corporation, as defined by William Shepherd's analysis of competitive dynamics in the U.S. economy, is one that has more than 50% of the market share and has no direct competitors.
When there is just one company that is the most productive in an industry, a natural monopoly results.
It is unfeasible to have more than one company manufacturing the item under a natural monopoly since fixed costs are usually quite high. Tap water is an illustration of a natural monopoly.
This Act forbids mergers and acquisitions that are likely to reduce competition but carries no criminal sanctions. In accordance with this Act, the Government opposes mergers that are likely to raise consumer costs.
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