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monopoly :: legal definition


Monopoly - n. a business or inter-related group of businesses which controls so much of the production or sale of a product or kind of product as to control the market, including prices and distribution. Business practices, combinations and/or acquisitions which tend to create a monopoly may violate various federal statutes which regulate or prohibit business trusts and monopolies or prohibit restraint of trade. However, limited monopolies granted by a manufacturer to a wholesaler in a particular area are usually legal, since they are like "licenses." Public utilities such as electric, gas and water companies may also hold a monopoly in a particular geographic area since it is the only practical way to provide the public service, and they are regulated by state public utility commissions.

See also: antitrust laws license restraint of trade and Related Law Terms ↓


Related Law Terms

bait and switch :: n. a dishonest sales practice in which a business ... rants the costs of a separate suit.
Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people.
conflict of interest :: n. a situation in which a person has a duty to mor ... a position adverse to the customer.
confusingly similar :: adj. in the law of trademarks, when a trademark, l ... a of the other. See also: trademark
consumer protection laws :: n. almost all states and the federal government ha ... rranty product liability securities
corporation :: n. an organization formed with state governmental ... ation public corporation securities
franchise :: 1) n. a right granted by the government to a perso ... on property, income or profits tax.
incorporate :: v. 1) to obtain an official charter or articles of ... te by reference incorporation stock
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
invitee :: n. a person who comes onto another's property, pre ... ail employees. See also: negligence
patent :: 1) adj. obvious. Used in such expressions as a "pa ... patent infringement patent pending
permit :: 1) v. to allow by silence, agreement or giving a l ... f public revenue. See also: license
practice :: 1) n. custom or habit as shown by repeated action, ... s "she practices law in St. Louis."
prior restraint :: n. an attempt to prevent publication or broadcast ... e words of Sir William Blackstone).
public utility :: n. any organization which provides services to the ... nder state laws. See also: monopoly
regulations :: n. rules and administrative codes issued by govern ... es usually have similar procedures.
restraint of trade :: n. in antitrust law, any activity (including agree ... also: antitrust laws monopoly trust
standing :: n. the right to file a lawsuit or file a petition ... so: actual controversy jurisdiction
trade name :: n. a name of a business or one of its products whi ... t is different. See also: trademark

Popular Law Searches

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Other Law Terms - M

M. O. :: n. slang for modus operandi, the way or pattern in ... her crime. See also: modus operandi
magistrate :: n. 1) a generic term for any judge of a court, or ... ce of the peace preliminary hearing
Magna Carta :: n. Latin for "Great Charter," it was a document de ... s. It is also spelled Magna Charta.
mail box rule :: n. in contract law, making a written offer or acce ... nse in hand when the time runs out.
maim :: v. to inflict a serious bodily injury, including m ... to a prison term. See also: mayhem
majority :: n. 1) the age when a person can exercise all norma ... t. See also: child infancy minority
make :: v. 1) to create something. 2) to sign a check, pro ... xchange check maker promissory note
make one whole :: v. to pay or award damages sufficient to put the p ... fault of another. See also: damages
maker :: n. 1) the person who signs a check or promissory n ... : check payee payor promissory note
malfeasance :: n. intentionally doing something either legally or ... sponsibility. See also: misfeasance
malice :: n. a conscious, intentional wrongdoing either of a ... cution murder public figure slander
malice aforethought :: n. 1) the conscious intent to cause death or great ... : first degree murder malice murder
malicious prosecution :: n. filing a lawsuit with the intention of creating ... vor of the victim. See also: malice
malpractice :: n. An act or continuing conduct of a professional ... eed. See also: errors and omissions
malum in se :: (mal-uhm in say) adv. Latin referring to an act th ... hibitum. See also: malum prohibitum
malum prohibitum :: (mal-uhm prohibit-uhm) adj. Latin meaning "wrong d ... lso: malum in se white collar crime
mandamus :: (man-dame-us) n. Latin for "we order," a writ (mor ... mandamus. See also: writ of mandate
mandate :: n. 1) any mandatory order or requirement under sta ... See also: mandamus writ of mandate
mandatory :: adj., adv. absolutely demanded or required. ... v. absolutely demanded or required.
mandatory joinder :: n. the required inclusion of a party in a lawsuit ... sues in the case. See also: joinder