In commercial law . A privilege or peculiar advantage vested in one or more persons or companies, consisting in the exclusive right (or power) to carry on a particular business or trade, manufacture a particular article, or control the sale of the whole supply of a particular commodity. Defined in English law to be “a license or privilege allowed by the king for the sole buying and selling, making, working, or using, of anything whatsoever; whereby the subject in general is restrained from that liberty of manufacturing or trading which he had before.” 4 Bl. Comm. 159; 4 Steph. Comm. 291. And see State v. Duluth Board of Trade , 107 Minn. 506, 121 N. W. 395, 23 L. It. A. (N. S.) 1260. A monopoly consists in the ownership or control of so large a part of the market- supply or output of a given commodity as to stifle competition , restrict the freedom of commerce, and give the monopolist control over prices. See State v. Eastern Coal Co., 20 R. I. 254, 70 Atl. 1, 132 Am. St. Rep. 817; Over v. Byrain Foundry Co., 37 Ind. App. 452, 77 N. E. 302, 117 Am. St. Rep. 327; State v. Haworth, 122 Ind. 462, 23 N. E. 040, 7 L. R. A. 240; Davenport v. Kleinschmidt 6 Mont. 502, 13 Pac. 249; Ex parte Levy, 43 Ark. 42, 51 Am. Rep. 550; Case of Monopolies, 11 Coke, 84; Laredo v. International Bridge, etc., Co., 66 Fed. 240, 14 C. C. A. 1; International Tooth Crown Co. v. Ilanks Dental Ass’n (C. C.) Ill Fed. 91G; Queen Ins. Co. v. State, 80 Tex. 250, 24 S. W. 307, 22 L. R. A. 483; Herriman v. Menzies, 115 Cal. 16, 46 Pac. 730, 35 L. R. A. 318, 56 Am St. Rep. 81.
Black’s Law Online Dictionary
