A collaborative agreement, usually secret, amongst rivals to prevent open competition through deceptive means in order to gain a market advantage. The parties may collude by agreeing to fix prices, limit or restrict supply, share insider information, or divide the market.
Definition from Nolo’s Plain-English Law Dictionary
Secret cooperation between two people or entities in order to fool, defraud, or gain an unfair advantage over another. Price fixing by companies supposed to be competitors is one example of collusion.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:12 pm