legal monopoly

noun COMMERCE, ECONOMICS

Definition

› [C or U] a situation in which a government gives the right to provide particular goods or services to one company: a legal monopoly on/over sth The chemicals group has a legal monopoly on UK opiate production.

› [C] a company that has the right to be the only one that provides particular goods or services within a country or area: Railroads and airlines have been operated as legal monopolies at different periods.

(Definition of legal monopoly noun from the Cambridge Business English Dictionary © Cambridge University Press)

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