Legal monopoly

(redirected from Statutory monopoly)
Also found in: Wikipedia.

Legal monopoly

A government-regulated firm that is legally entitled to be the only company offering a particular service in a particular area.

Legal Monopoly

A monopoly constituted as such by the state. Legal monopolies are often heavily regulated and may have their rates and charges set by the government, at least within certain limits. The government may run the monopoly directly or contract it out to private companies; it also usually prohibits competition. A government may set up a legal monopoly if it deems it necessary for the citizenry to have a service that the monopoly provides at a reasonable rate. For example, the postal service may be considered a legal monopoly because, even though it has competition for some of its services, it remains the only organization that can legally deliver regular mail. This is because it is considered vital for the mail to run in a timely manner at affordable prices.
References in periodicals archive ?
Once upon a time, farmers were sheltered from the harsh realities of global capitalism by the existence of the Milk Marketing Board: a statutory monopoly that guaranteed the same price to the dairyman with five cows halfway up a mountain in the Lake District and his counterpart with several hundred beasts on the Cheshire plain.
CCP observed that this statutory monopoly of NICL harms competition in the insurance market.
Australia Post has a statutory monopoly over the delivery of standard letters, which weigh less than 250g and cost no more than $2.
They wanted a Scottish-style statutory monopoly in Wales.
They note that even with a statutory monopoly, the Postal Service can't make ends meet.
The CPC Act confers an exclusive statutory monopoly on Canada Post in respect of the collection, transmission, and delivery within Canada of "letters" (3) not weighing more than 500 g.
The Government will also introduce legislation, when Parliamentary time allows, to remove the statutory monopoly on provision of probation services by probation boards.
They have, however, benefited the Tote by granting it a statutory monopoly of pool betting.
This is just one more stunning example of the Postal Service indulging its misguided obsession with pretending to be a commercial enterprise, instead of what it really is; an accountability-challenged governmental bureaucracy with a statutory monopoly over domestic mail delivery," said Merritt.
We believe these are dangerous tools in a statutory monopoly and that they will undermine public faith in the Postal Service's ultimate mission of universal service," Max Heath testified before the President's Commission on the United States Postal Service on May 28.
The postal service has a statutory monopoly on mail delivery and is part of the federal government," Penman said.
Until not long ago MM and DC were parts of the same statutory monopoly milk marketing organisation.