Distinction between insider trading and trading on inside

1. What is the distinction between insider trading and trading on inside information pursuant to U.S. securities law? Why is this distinction critical? Who can legally trade on inside information? Is such trading moral?

2. What is the distinction between horizontal and vertical restraints, as well as the Per Se and Rule of Reason doctrines, in U.S. anti-trust law pursuant to the Sherman Act? Why are these distinctions critical? How is it possible to reasonably and thus illegally restrain trade and commerce?

3. What is the difference between the disparate treatment and the disparate or adverse impact theories in civil rights laws in the United States?

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