The 'Lectric Law Library's Lexicon On
* Monopoly *

MONOPOLY - 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.

All combinations among merchants to raise the price of merchandise to the injury of the public, is also said to be a monopoly.

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.
   --b--

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