Definition of monopoly
- n. - The exclusive power, or privilege of selling a commodity;
the exclusive power, right, or privilege of dealing in some article, or
of trading in some market; sole command of the traffic in anything,
however obtained; as, the proprietor of a patented article is given a
monopoly of its sale for a limited time; chartered trading companies
have sometimes had a monopoly of trade with remote regions; a
combination of traders may get a monopoly of a particular product.
- n. - Exclusive possession; as, a monopoly of land.
- n. - The commodity or other material thing to which the
monopoly relates; as, tobacco is a monopoly in France.