cartel

(redirected from Restrictive trade practice)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia.
Related to Restrictive trade practice: Unfair trade practice

Cartel

A combination of producers of any product joined together to control its production, sale, and price, so as to obtain a Monopoly and restrict competition in any particular industry or commodity. Cartels exist primarily in Europe, being illegal in the United States under antitrust laws. Also, an association by agreement of companies or sections of companies having common interests, designed to prevent extreme or Unfair Competition and allocate markets, and to promote the interchange of knowledge resulting from scientific and technical research, exchange of patent rights, and standardization of products.

In war, an agreement between two hostile powers for the delivery of prisoners or deserters, or authorizing certain nonhostile intercourse between each other that would otherwise be prevented by the state of war, for example, agreements between enemies for intercommunication by post, telegraph, telephone, or railway.

Although illegal in the United States, foreign cartels influence prices within the United States on imported and smuggled goods that they control. The United States has sued the De Beers diamond cartel several times, and works to stop the flow of illegal narcotics, whose production and distribution are largely controlled by drug cartels.

cartel

n. 1) an arrangement among supposedly independent corporations or national monopolies in the same industrial or resource development field organized to control distribution, to set prices, to reduce competition, and sometimes to share technical expertise. Often the participants are multi-national corporations which operate across numerous borders and have little or no loyalty to any home country, and great loyalty to profits. The most prominent cartel is OPEC (Organization of Petroleum Exporting Countries), which represents all of the oil producing countries in the Middle East, North Africa and Venezuela. Many cartels operate behind a veil of secrecy, particularly since under American anti-trust laws (the Sherman and Clayton Acts) they are illegal. 2) criminal syndicates like the international drug cartel headquartered in Colombia. (See: antitrust laws)

cartel

noun accord, accordance, affiliation, alliance, amalgamation, association, bloc, body corrorate, coadjuvancy, coalition, colleagueship, combination, combine, common consent, community of interest, concert, concord, concordance, concordat, concurrence, confederation, conjunction, consenus, consociation, consonancy, consort, consortium, contract, cooperation, covenant, federation, fusion, group, joint concern, league, merger, mutual understanding, organization, pact, sodality, syndicate, trust, union, unity
Associated concepts: business cartel, international cartel
See also: business, coalition, compact, confederacy, consortium, league, pool, syndicate, treaty, trust

cartel

see COMPETITION, COMPETITION POLICY.

CARTEL,war. An agreement between two belligerent powers for the delivery of prisoners or deserters, and also a written challenge to a duel.
     2. Cartel ship, is a ship commissioned in time of war, to exchange prisoners, or to carry any proposals between hostile powers; she must carry no cargo, ammunitions, or implements of war, except a single gun for signals. The conduct of ships of this description cannot be too narrowly watched. The service on which they are sent is so highly important to the interests of humanity, that it is peculiarly incumbent on all parties to take care that it should be conducted in such a manner as not to become a subject of jealousy and distrust between the two nations. 4 Rob. R. 357. Vide Merl. Rep. b. t.; Dane's Ab. c. 40, a. 6, 7; Pet. C. C. R. 106; 3 C. Rob. 141 C. Rob. 336; 1 Dods. R. 60.

References in periodicals archive ?
AHF will also call on India's Monopolies and Restrictive Trade Practices Commission (MRTPC), India's anti-trust commission that probes monopolistic, restrictive and unfair trade practices, to widen an inquiry of the Indian drug maker -- which MRTPC first opened as a result of AHF's advocacy ad -- to investigate the apparent steep prices for Cipla's generic AIDS drugs in India compared with prices the company has offered for people in Africa.
Regional trade agreements should address non-tariff barriers and restrictive trade practices.
Amendments in Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance, 1970 can only be made through the National Assembly.
Anti-Boycott Provisions - Restrictive Trade Practices or Boycotts (Title 15- Commerce and Foreign Trade Part 760)
Categories: December 18, 2009, Data collection, Export regulation, Exporting, Foreign trade agreements, Importing, International agreements, International cooperation, International relations, International trade regulation, Monitoring, Prices and pricing, Reporting requirements, Restrictive trade practices
India's Monopolies and Restrictive Trade Practices Commission Opened Inquiry of Drug Maker; AHF to Urge MRTPC to Expand Its Investigation of Cipla's Drug Pricing Practices
In addition, Koor announces that the Restrictive Trade Practices Controller has approved the transaction yesterday.
He added: 'My home town of Birmingham became the city of a thousand trades in part due to being an open city, free of closed shops and restrictive trade practices, attracting skilled workers from all over Europe who came to build a better life for themselves and Birmingham.
To get access to first-run features, Drabinsky prepared a very detailed, brilliant legal brief and managed to receive a hearing before the Restrictive Trade Practices Commission in Ottawa.
TASE:HOT) ("HOT"), an Israeli telecommunications and cable television company, which amount represents 15% of the issued and outstanding shares of HOT, that on October 2, 2008 the Israel Antitrust Authority, under the Ministry of Finance, informed NetVision in writing that it believes this transaction will restrict competition and as such deems it to be a restrictive arrangement subject to the Restrictive Trade Practices Law 5748-1988.
Categories: International Affairs, Advance payments, Cuba, Executive powers, Export regulation, Exporting, Foreign governments, Foreign trade policies, Gifts or gratuities, International cooperation, International relations, International trade regulation, International trade restriction, Licenses, Restrictive trade practices, Telecommunications, Travel