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Yep! Monopoly just means there's only one supplier of any commodity. It does not mean there are no alternatives. A patent is a government-issued monopoly.
by jp555 8y ago
Yep! Monopoly just means there's only one supplier of any commodity. It does not mean there are no alternatives.
A patent is a government-issued monopoly.
- scarface74 8y agoIn that case you can define monopoly however you want. You could say that YCombinator has a monopoly on posts to HN.
- jp555 8y agoThe definition of a monopoly is when there is only one seller of something. That exclusivity can be achieved in a number of ways such as patents, trade secrets, or some other monopoly moat.