restraint of trade

Definition from Nolo’s Plain-English Law Dictionary

Any activity (including agreements among competitors or companies doing business with each other) that tends to limit trade, sales, and transportation in interstate commerce or has a substantial impact on interstate commerce. Most restraints of trade are illegal under various antitrust statutes. Some state laws also outlaw local restraints on competitive business activity. (See also: monopoly)

Definition provided by Nolo’s Plain-English Law Dictionary.