Pure monopoly

(redirected from Perfect Monopolies)

Pure monopoly

A market in which only one firm has total control over the entire market for a product due to some sort of barrier to entry for other firms, often a patent held by the controlling firm.

Pure Monopoly

A company that has total control of a given market. Most of the time, a pure monopoly exists in a situation in which a company has a patent or uses some technology that is popular with consumers, but is protected from use by another company, at least for limited period of time. See also: Duopoly, Antitrust.