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Its controversial history as one of the world's first and largest multinational corporations ended in 1911, when the United States Supreme Court ruled that Standard was an illegal monopoly. The Standard Oil trust was dissolved into 33 smaller companies; two of its surviving "child" companies are ExxonMobil and the Chevron Corporation .
U.S. patent 2,026,082 – Patent awarded to C.B. Darrow for Monopoly on December 31, 1935; The History of The Landlord's Game and Monopoly. History of Monopoly at World of Monopoly; Online photo album of many historical U.S. Monopoly sets, from Charles Darrow's sets through the 1950s from the Fernandez Collection Sundown Farm and Ranch
Lizzie Magie's 1904 board design, The Landlord's Game, was a predecessor of Monopoly. The history of Monopoly can be traced back to 1903, [1] [7] when American anti-monopolist Lizzie Magie created a game called The Landlord's Game that she hoped would explain the single-tax theory of Henry George as laid out in his book Progress and Poverty.
In such a monopoly, the monopolist is able to make pricing and production decisions without an eye on competitive market forces and is able to curtail production to price-gouge consumers. Laissez-faire advocates argue that such a monopoly can only come about through the use of physical coercion or fraudulent means by the corporation or by ...
Some state courts have higher market share requirements for this definition. In-depth analysis of the market and industry is needed for a court to judge whether the market is monopolized. If a company acquires its monopoly by using business acumen, innovation and superior products, it is regarded to be legal; if a firm achieves monopoly through ...
Robber Barons, standing for a Gilded Age of corruption, monopoly, and rampant individualism. Their corporations were the Octopus, devouring all in its path. In the twentieth century and the twenty-first they became entrepreneurs, necessary business revolutionaries, ruthlessly changing existing practices and demonstrating the protean nature of ...
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A legal monopoly, statutory monopoly, or de jure monopoly is a monopoly that is protected by law from competition. A statutory monopoly may take the form of a government monopoly where the state owns the particular means of production or government-granted monopoly where a private interest is protected from competition such as being granted exclusive rights to offer a particular service in a ...