Word: pennsalt
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Dates: during 1960-1969
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Main points of the court's rulings: > Major companies will find it tougher to initiate joint ventures. Last week's case in point involved the Penn-Olin Chemical Co., set up on a fifty-fifty basis by Olin Mathieson Chemical Corp. and Pennsalt Chemicals in 1960 to make sodium chlorate for use in the pulp and paper industry. A lower court had dismissed a complaint against the creation of the firm. But the Supreme Court said, in effect, that companies cannot enter joint ventures if there was a "reasonable probability" that either would have gone into the line...
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