gray market

gray market definition - business

gray market

The sale of products by merchants who have not received authorization to sell them from the products' manufacturers. For example, a company may import and sell vehicles without the authorization of the vehicle manufacturer. The buyer of a gray-market product may have difficulty getting the manufacturer to honor the product warranty.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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