/rul ʌv rizən/ – Phrase
Definition: quy tắc “lẽ phải”.
A more thorough explanation: The “rule of reason” is a legal doctrine used in antitrust law to determine whether a particular business practice violates antitrust laws. Under the rule of reason analysis, the court evaluates the overall competitive impact of the practice in question, considering both its pro-competitive and anti-competitive effects. This analysis involves weighing the potential benefits of the practice against its potential harm to competition. Practices that are found to unreasonably restrain trade or harm competition may be deemed illegal under antitrust laws.
Example: In antitrust law, the rule of reason is applied to assess whether a particular business practice unreasonably restrains trade or competition.