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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 ...
The Statute of Monopolies [1] (21 Jas. 1. c. 3) was an act of the Parliament of England notable as the first statutory expression of English patent law. Patents evolved from letters patent, issued by the monarch to grant monopolies over particular industries to skilled individuals with new techniques. Originally intended to strengthen England's ...
It is a monopoly created, owned, and operated by the government. It is usually distinguished from a government-granted monopoly, where the government grants a monopoly to a private individual or company. A government monopoly may be run by any level of government—national, regional, local; for levels below the national, it is a local monopoly.
A monopoly has considerable although not unlimited market power. A monopoly has the power to set prices or quantities although not both. [37] A monopoly is a price maker. [38] The monopoly is the market [39] and prices are set by the monopolist based on their circumstances and not the interaction of demand and supply. The two primary factors ...
11. Thurn and Taxis Mail. The private company operated postal service back in the 1800s and enjoyed a monopoly on postal services. The company's dominance came to an end after Prussian victory ...
In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
Following World War II and the unconditional surrender of Japan and Germany, tighter controls, replicating the existing American policies and regulations were introduced. However, further developments were considerably overshadowed by the move towards nationalisation and industry-wide planning in many countries. Making the economy and industry ...
Darcy v Allin was the first definitive statement by a court that state-established monopolies are inherently harmful and therefore contrary to law. The case has since come to be known as The Case of Monopolies, and the arguments set forth therein have served as the basis for modern antitrust and competition law. It drew considerably on ...