MONOPOLY
Legal Dictionary -> MONOPOLYSearch:
MONOPOLYMONOPOLY, commercial law. This word has various significations. 1. It is the
abuse of free commerce by which one or more individuals have procured the advantage of selling alone all of a particular kind of merchandise, to the detriment of the public. 2.-2. All combinations among merchants to raise the price of merchandise to the injury of the public, is also said to be a monopoly. 3.-3. A monopoly is also an institution or allowance by a grant from the sovereign power of a state, by commission, letters patent, or otherwise, to any person, or corporation, by which the exclusive right of buying, selling, making, working, or using anything, is given. Bac. Abr. h.t.; 3 Inst. 181. 4. The constitutions of Maryland, North Carolina, and Tennessee, declare that "monopolies are contrary to the genius of a free government, and ought not to be allowed." Vide art. Copyright; Patent.
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