Monopoly

In Commercial Law. The abuse of free commerce by which one or more individuals have procured the advantage of selling alone all of a particular kind of merchandise, to the detriment of the public. Any combination among merchants to raise the price of merchandise to the injury of the public. An institution or allowance by a grant from the sovereign power of a state, by commission, letters-patent, or otherwise, to any person, or corporation, by which the exclusive right of buying, selling, making, working, or using anything is given; Bacon, Abr.; Co. 3d Inst. 181; whereby any person or persons, bodies politic or corporate, are sought to be restrained of any freedom or liberty they had before, or hindered In their lawful trade; Butchers’ Union Slaughter- House & Live-Stock Landing Co. v. Slaughter House Co., Ill U. S. 754, 4 Sup. Ct 652, 28 L. Ed. 685; Darcantel v. Refrigerating Co., 44 La. Ann. 632, 11 South. 239; U. S. v. Freight Ass’n, 63 Fed. 452. Monopolies were, by stat.

21 Jac. I. c.

3, declared illegal and void, subject to certain specified exceptions, such as patents in favor of the authors of new Inventions; 4 Bla. Com. 159; 2 Steph. Com. 25. See Curtis, Robinson, Merwin, Walker; Patents. A patent for a useful invention, under the United States laws, is not, in the old sense of the common law, a monopoly. The constitutions of Maryland, Nprth Carolina, and Tennessee declare that “monopolies are contrary to the genius of a free government, and ought not to be allowed.” The Sherman anti-trust act (July 2, 1890) la treated under Restbaint of Tba Oe. See CoPYBioHT; Patent.