Legal Definition and Related Resources of Monopoly
Meaning of Monopoly
An exclusive right , granted to few, of something which was before of common right. Charles river Bridge v warren Bridge, 11 Pet. 420, 9 L.Ed. 773. In a large sense, the term denotes the exclusive right or privilege of engaging in a particular trade vested in one or more persons or companies. Also, the ownership or control of so large a part of the market supply or output of a given commodity or service as to unduly prevent or lessen competition in that commodity or service. In modern usage , the term has also come to mean the power to exclude competition and the power to control prices. Denotes a situation where a product or service is controlled by one interest and where no substitutes are available in the market. The Sherman Anti- trust Act (U.S.C. title 15) is intended to secure equality of opportunity and to protect the public against evils commonly incident to monopolies. other relevant statutes are the Robinson-Patman Act (15 U.S.C. §13) and the clayton act (15 U.S.C. § 12 et seq.).
Monopoly Alternative Definition
(from Lat. monopoliwm, q. V.) An exclusive right granted to a few, of something which was before of common right. 11 Peters (U. S.) 607. The exclusive privilege of selling any commodity. Defined in English law to be a license or privilege allowed by the king for the sole buying and selling, making, working, or using of anything whatsoever, whereby the subject in general is restrained from that liberty of manufacturing or trading which he had before. 4 Bl. Comm. 159; 4 Steph. Comm. 291. Any exclusive right or privilege. The term also indicates the possession of total (or in some cases a dominating control of a commodity, etc.
International Trade Meaning and Definition of Monopoly
Exclusive control or possession by one group of the means of producing or selling goods or services.
Synonyms of Monopoly
- control of the market
- control of trade
- exclusive control
- exclusive possession
- exclusive privilege to carry on a traffic
- exclusive right
- sole control of a commodity Associated Concepts: antitrust laws
- combination in restraint of trade
- exemptions from antitrust laws
- price fixing
- trustforeign phrases: Commercium jure gentium commune esse debet
- et non in monopolium et privatum paucorum quaestum convertendum
- By the law of nations
- commerce ought to be common and not converted into a monopoly and the private gain of a few persons
- Monopolio dicitur
- cum unus solus aliquod genus mercaturae universum emit
- pretium adsuum libitum statuens
- A monopoly is said to exist when one person alone buys up the whole of one kind of commodity
- fixing a price at his own pleasure
Related Entries of Monopoly in the Encyclopedia of Law Project
Browse or run a search for Monopoly in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Monopoly in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Monopoly in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Monopoly in the Legal Abbreviations and Acronyms Dictionary.
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Monopoly in Law Enforcement
Main Entry: Law Enforcement in the Legal Dictionary. This section provides, in the context of Law Enforcement, a partial definition of monopoly.
Legal English Vocabulary: Monopoly in Spanish
Related to the Legal Thesaurus
- Law Enforcement Officer
- Law Enforcement Agency
- monopoly in A Dictionary of Law Enforcement (Oxford University Press)
- monopoly in the Encyclopedia of Law Enforcement
- A Treatise on the Police of the Metropolis
Monopoly in the Economic Activity
An introductory concept of Monopoly may be: a market consisting of only one firm
Natural Monopoly in the Economic Activity
An introductory concept of Natural Monopoly may be: a monopoly that exists because average costs of production are declining beyond the level of output demanded in the market, thus making entry unprofitable and making it efficient for there to be a single firm
Monopoly Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Monopoly in a way that is easy for anybody to understand: Control of the production and distribution of a product or service by one firm or a group of firms acting in concert.
Definition of Monopoly
The Canada social science dictionary  provides the following meaning of Monopoly: A situation in which one company has gained control of the market for a particular good or service. This is in direct conflict with the values of liberalism which emphasize competition among numerous producers.
Notes and References
- Drislane, R., & Parkinson, G. (2016). (Concept of) Monopoly. Online dictionary of the social sciences. Open University of Canada
What is the meaning of Monopoly?
A definition of Monopoly is provided here: A market in which there is only one seller.
- Joint Enterprise
- Joint Venture
Hierarchical Display of Monopoly
Business And Competition > Competition > Restriction on competition
Business And Competition > Competition > Restrictive trade practice > Horizontal agreement > Cartel
Trade > Consumption > Goods and services > Service > Universal service
Meaning of Monopoly
Overview and more information about Monopoly
For a more comprehensive understanding of Monopoly, see in the general part of the online platform.[rtbs name=”xxx-xxx”]
Translation of Monopoly
- Spanish: Monopolio
- French: Monopole
- German: Monopol
- Italian: Monopolio
- Portuguese: Monopólio
- Polish: Monopol
Thesaurus of Monopoly
Business And Competition > Competition > Restriction on competition > Monopoly
Business And Competition > Competition > Restrictive trade practice > Horizontal agreement > Cartel > Monopoly
Trade > Consumption > Goods and services > Service > Universal service > Monopoly