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cartel definition - legal

n

A group of independent producers or sellers in a particular industry, or a group of businesses with a common interest, who have joined together to reduce competition between themselves by allocating markets, sharing knowledge, or controlling the price and production of a product or service. See also monopoly and oligopoly.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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