Legal monopoly


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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 ?
American brand-name drugmakers have a legal monopoly to sell these drugs.
They are also required to comply with rules gov- erning consumer protection and fair competition controls, commercial fraud and legal monopoly.
Dr Al Nuaimi added that advertisers are also required to comply with rules governing consumer protection and fair competition controls, commercial fraud and legal monopoly.
The second is patent protection of drugs, which gives the patent owner a legal monopoly on the use of a drug that uses the patented invention.
Despite extensive unpopularity, the Postal Service manages year after almost every year to lose money, provide lousy service, and stave off virtually all challenges to its legal monopoly status."
The NFA has a legal monopoly, since time immemorial, on the international rice trade.
As a legal monopoly regulated by the Corporation Commission, APS has guaranteed customers, guaranteed growth and guaranteed profits.
<br />My goal is that, working with the university, the law school, and the legal community, UMKC School of Law will continue its legacy of providing access to justice through education and of preparing the leaders of the future, not only for the Kansas City area but nationally and internationally.<br />Changes in legal practice due to technology, globalization, structural shifts in law firms and the breakdown of the legal monopoly on delivery of legal services all require law schools to rethink their programs.
Local economists called on the Duterte administration to remove the legal monopoly of the National Food Authority (NFA) to import rice if it wants to stabilize the price of the staple.
"We will accept any cryptocurrency as long as we can both figure it out and as long as it has no legal monopoly," shop co-founder Steven Zeiler told International Business Times.
(Petrobras) a legal monopoly over all its hydrocarbon resources, the company has grown substantially beyond its primary production regions of the Reconcavo and Carmopolis oil fields and offshore Campos and Santos basins.
Here, the culprit is "monopoly." Over time, it has become so ambiguous that it could refer to a trade monopoly; an antitrust monopoly; a legal monopoly; or those property rights that tend to generate monopolistic, or imperfect, competition among producers of differentiated goods or services.