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LSDefine

Simple English definitions for legal terms

monopoly power

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A quick definition of monopoly power:

Monopoly power refers to the ability of a company or organization to control prices or prevent competition in a particular market. This power is often determined by the size of the company's market share, or the percentage of the market that they control. When a company has monopoly power, they can charge higher prices for their products or services without fear of losing customers to competitors. This can be harmful to consumers, as it limits their choices and can lead to higher prices.

A more thorough explanation:

Monopoly power refers to the ability of a company or organization to control prices or exclude competition in a particular market. The extent of monopoly power is often determined by the size of the market share held by the company.

  • Microsoft has been accused of having monopoly power in the computer software industry due to its dominant market share in operating systems.
  • De Beers, a diamond mining company, has been accused of having monopoly power in the diamond industry due to its control over the majority of diamond mines and distribution channels.

These examples illustrate how a company with a large market share can use its power to control prices and exclude competition. In the case of Microsoft, it has been accused of using its dominant position to force customers to use its products and limit the ability of competitors to enter the market. Similarly, De Beers has been accused of controlling the supply of diamonds and driving up prices by limiting the availability of diamonds on the market.

monopoly leveraging | monopsony

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ParallelAgreeableOrangutan
11:52
esp with the scholarship!!
I don't really know where I want to end up practicing yet, but I've enjoyed living in the midwest so far. I think I might ultimately like to end up as in-house corporate for the work life balance.
ParallelAgreeableOrangutan
11:53
I lived in Bloomington for a long time, can't speak to the law school but can answer Qs about the city if you'd like
@ParallelAgreeableOrangutan: How do you think it is to live in as a 20-something going to grad school? The comparison is Iowa city, so not an extremely high bar for liveliness. (No offense intended towards IC. I think it's a lovely place)
NosyBeagle
11:56
@NemoPropheta: taking it in august. feels like ill never be ready but f it we ball
I think the secret to happiness is fuck it we ball
is one ever truly ready for something? probably not. but fuck it we ball!
12:20
I went ahead and registered for August as well since it was free
12:20
Getting 2 180s back to back is better than one right
ronniedoeslaw
12:26
In all of your research, what minimum LSAT score do you believe gets you into UIC law?
12:27
I remember the last guy on here who was convinced he was gonna get a 180 bc he scored in that range on PTs
12:28
🤐
12:29
ugh someone come rub my bellly
12:33
@esoterica: he wasnt on that grindset mentality. im him
12:34
Im gonna drink so much saratoga water on test day
ParallelAgreeableOrangutan
12:43
@LawOfAchilles: (hiii sorry so slow, am at work) Bloomington is lovely, I loved it as an undergrad and as a 20something non-student.
ParallelAgreeableOrangutan
12:45
If you're outdoorsy, it's nice--obv no coasts or mountains, but two small lakes really close, lots of places you can go on a lowkey hike or camp without paying park fees or anything really
ParallelAgreeableOrangutan
12:47
super bikable, decent food to be had, things to do but not so much that you'll be distracted and never study lol. idk I'm a fan haha, I miss it
lmao I just got the LSAC notif that I'm under review at IU Maurer
ParallelAgreeableOrangutan
13:11
May you have better luck than I did :)
YAYYY JUPITER
@LawOfAchilles: if you like the outdoors, you're gonna love bloomington.
both uiowa and iu have a good reputation, especially with midwestern law firms. their alumni resources are pretty top notch too.
14:11
Hey guys, are any T14 schools doing tours during the summer?
NosyBeagle
14:24
@NemoPropheta: the lsat was free for you? lucky
14:26
who else piss on the floor during their lsat
sloth i gotta know about caesar beans
14:35
@NosyBeagle: yeah you just have to be poor and then they let you take it for free twice
NosyBeagle
14:54
ah ok it's a fee waiver. i think ill do that
NosyBeagle
14:54
the test got more expensive since the last time i took it
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