Monopoly definitions and example sentences on Wordnik

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Definitions (18)

American Heritage Dictionary (6)

noun Exclusive control by one group of the means of producing or selling a commodity or service: "Monopoly frequently ... arises from government support or from collusive agreements among individuals” (Milton Friedman).
noun Law A right granted by a government giving exclusive control over a specified commercial activity to a single party.
noun A company or group having exclusive control over a commercial activity.

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Century Dictionary (8)

An exclusive privilege to carry on a traffic. Monopolies are much the same offence in other branches of trade that engrossing is in provisions, being a license or privilege allowed by the king for the sole buying and selling, making, working, or using of any thing whatsoever: whereby the subject in general is restrained from that liberty of manufacturing or trading which he had before. Blackstone, Com. (ed. Waite), IV. 159.
Specifically, in Eng. constitutional hist., and hence sometimes in American law, such an exclusive privilege when granted by the crown or state to an individual, association, or corporation, for the sake of the pecuniary advantage of its exclusiveness. A privilege not granted by the state, but secured by buying up the article, is termed by the English law engrossing. The legal objection to a monopoly, in this sense of the word, is that it can be secured only by forbidding all other citizens except the favored grantee to exercise a common-law right. Exclusive privileges granted by the state to a limited number of persons for the sake of enabling the state the better to regulate the traffic for the protection of the rest of the community, as in case of banking franchises, liquor traffic, etc., are not deemed monopolies, although the same privileges would be, if conferred on a single or a very few grantees, for the sake of the pecuniary benefit to them. So the exclusive privileges conferred on inventors and authors, by the patent and copyright laws, for the sake of the encouragement of the arts and literature, and extending only to articles originally devised under that encouragement, are not deemed monopolies. Both these classes of grants have, however, been condemned by some as partaking of the character of monopolies. If any man, out of his own wit, industry, or endeavour, find out anything beneficial to the Commonwealth, or bring out any new invention which every subject of this kingdom may use, yet, in regard of his pains and travel therein, her Majesty perhaps is pleased to grant him a privilege to use the same only, by himself or his deputies, for a certain time. This is one kind of Monopoly. Sometimes there is a glut of things, when they be in excessive quantity, as perhaps of corn; and perhaps her Majesty gives licence of transportation to one man. This is another kind of Monopoly. Sometimes there is a scarcity or a small quantity; and the like is granted also. Bacon, in E. A. Abbott's Account of his Life and Works. I will have no private monopolies, to enrich one man, and beggar a multitude. Burton, Anat. of Mel., To the Reader, p. 68. He thinks he can never trade to his advantage unless he can have the monopoly of everything he values. South.
In political economics, and as used in a general sense in law, such an exclusive privilege to carry on a traffic, or deal in or control a given class of articles, as will enable the holder to raise prices materially above what they would be if the traffic or dealing were free to citizens generally. In this sense, that exclusive control of a particular kind of product which results from the legitimate ownership of the only land from which it can be obtained, as in the case of some mineral waters, or earths, or ores, is sometimes spoken of as a natural monopoly, in contrast to the artificial monopolies created by state grant. See virtual monopoly, below.

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Does this mean Downhill Battle's mission to end the major label monopoly is almost complete? — Downhill Battle
Many people cheered it on, thinking a monopoly was the only way to bring order to the fractured market. — Low End Mac
They want to use the term monopoly, and examine the institution the same way all monopolies are examined in economic literature. — Mises Dailies
This de facto monopoly will be worse than a naturally occuring monopoly, which is still usually subject to market forces and can (and often is) still be brought down through normal competition. — Libertarian Blog Place
MS don't want to buy Novell as they also risk getting call a monopoly, again. — Boycott Novell - Recent changes [en]

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