cartel

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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 ?
United Kingdom Competition Law Main acts(1) Fair Trading Act (FTA) 1973 Potential abuse of monopoly power or dominance Mergers General Restrictive labour practices Competition Act (CA) 1980 Competition Public sector Acts involving the courts(2) Restrictive Trade Practices Act (RTPA) 1976 Resale Prices Act (RPA) Acts relating to the privatised industries Telecommunications Act 1984 Gas Act 1986 Airports Act 1986 Electricity Act 1989 Water Industry Act 1991 Railways Act 1993 Gas Act 1995 Other relevant acts Broadcasting Act 1990 Director General of Fair Trading investigates commercial TV networking and openness of BBC to independent programme makers.
Monopolies & Restrictive Trade Practices (Control and Prevention) Ordinance, 1970: This Ordinance consists of six parts namely, preliminary, undue concentration of Economic Power etc, Prohibited.
Categories: International Affairs, Burma, Burmese Jadeite, Burmese Rubies, China, Federal agencies, Foreign governments, Foreign trade agreements, Foreign trade policies, Import restriction, Importing, International cooperation, International organizations, International relations, International trade, International trade regulation, International trade restriction, Precious stones, Reporting requirements, Restrictive trade practices, Thailand
During the first quarter, the European Commission for Restrictive Trade Practices approved all the contracts for purchase of Bayer's products, and closing processes were completed.
This is to supervise functions and consolidation of market structures, promote competition, stop restrictive trade practices, guarantee consumer protection and undertake pricing for goods.
Categories: International Affairs, Arms control, Arms control agreements, Combating terrorism, Data integrity, Export regulation, Exporting, Foreign trade policies, Interagency relations, Internal controls, International trade regulation, International trade restriction, Jurisdictional authority, Licenses, Performance measures, Restrictive trade practices, Risk management, System vulnerabilities, Systems analysis, Systems monitoring, Trade regulation, Weapons industry, Weapons systems, GAO High Risk Series
Chris Osborne has been involved in over 50 cases of litigation and arbitration, covering loss of profits claims, post acquisition disputes, insurance claims and restrictive trade practices.
Categories: National Defense, Data integrity, Defense industry, Department of Defense contractors, Export regulation, Exporting, Federal regulations, International relations, International trade, International trade regulation, International trade restriction, Records management, Reporting requirements, Restrictive trade practices, International Traffic in Arms Regulations
The approval of the Arrangement by the Court is conditioned upon obtaining tentative approvals from the Ministry of Communications, the Income Tax Commissioner, the Council of Cable and Satellite Broadcasting ("Council"), and the Restrictive Trade Practices Controller for the execution of the transactions related to the Arrangement.
The transaction will also be subject, among other conditions, to receipt of all approvals required by law and contract, including the approval of the applicable governing bodies (including shareholders) of Elbit Systems and Elop, approval of the Israeli Commissioner of Restrictive Trade Practices and receipt of a fairness opinion from an independent U.
NASDAQ: MATVY) today announced that on May, 11th, 1999, an agreement was reached between the CATV operators including the Company, the MOC, the Council of Cable and Satellite broadcasting, the Treasure Ministry, the Law Ministry, and the Commissioner of Restrictive Trade Practices, concerning the main issues in dispute between the parties.
NASDAQ: MATVY) today announced that on March 29, 1999 the Restraint of Trade Authority (the "Authority") notified the Company that it may announce that the Company is a monopoly in accordance with the Israeli law on restrictive trade practices.