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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →A monopoly is a market situation in which one seller—or a firm with substantial, lasting market power—faces too little competition from substitutes or new rivals to keep it in check. In U.S. antitrust law, being a monopoly or charging high prices is not illegal by itself; the key question is whether the firm used unreasonable conduct to acquire or maintain that power.
What does monopoly mean?
In a basic economics model, a monopoly is a single seller serving a market with no close substitutes. In real markets, the term is often used more practically: a company may face meaningful competition and still have monopoly power if its rivals and alternatives do not constrain it enough.
The first step is to define the market. A company’s size, popularity, or fame alone does not establish that it is a monopolist. The relevant question is which products and geographic area consumers would realistically consider, and whether those alternatives would discipline the company’s conduct. The Federal Trade Commission (FTC) explains that courts do not require a literal one-seller market before applying rules for single-firm conduct; “monopolist” is shorthand for a firm with significant and durable market power. FTC, “Monopolization Defined”.
Market power versus monopoly power
Market power is some ability to influence price or other terms of trade. It can arise from product differences, reputation, consumer preferences, or location. A neighborhood service provider, for example, may have some ability to set prices because of its location, even when customers have other choices.
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Monopoly power is a much greater and more durable ability to act without effective competitive constraint. The U.S. Department of Justice (DOJ) chapter on monopolization distinguishes ordinary market power from monopoly power, which it describes using the Supreme Court formulation “the power to control prices or exclude competition.” DOJ, archived Chapter 2: Monopolization.
How do authorities assess whether a company has monopoly power?
There is no single market-share percentage that automatically makes a company a monopoly. Share can be important evidence, but it must be considered with the conditions that determine whether the company can keep its position and whether customers or rivals can constrain it. The DOJ chapter is archived and describes historical legal analysis, not a current numerical enforcement threshold.
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- Define the market. Identify the relevant products and geographic area, including meaningful alternatives consumers would switch to.
- Assess competitive constraints. Consider market share alongside buyer switching, rival capacity to expand, and how demand responds to price or quality changes.
- Evaluate durability. Ask whether entry or expansion barriers could let the firm sustain its power, or whether innovation and new competition could quickly erode it.
- Examine the firm’s conduct. Consider whether it acquired or maintained its position through exclusionary or predatory methods, and assess the effects on competition and any legitimate business justification.
A high share may overstate power when customers can switch readily, rivals can quickly increase supply, or technological change can displace a leader. Conversely, barriers to entry can make a powerful position last. The answer depends on the particular market and evidence, not on a company’s public profile or one isolated statistic.
Is it illegal to have a monopoly in the United States?
No. Section 2 of the Sherman Act makes it unlawful to monopolize or attempt to monopolize, but the FTC says that monopoly status, high prices, or aggressive competition alone do not establish a violation. The legal concern is using unreasonable methods to acquire or maintain monopoly power. FTC, “Single-Firm Conduct”.
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Winning customers through superior products, innovation, or business skill can be lawful even if a company becomes dominant. The FTC cautions that exclusionary or predatory acts may raise antitrust concerns, with the assessment depending on the conduct, its competitive effects, and any procompetitive justification. That distinction matters: antitrust law is not simply a rule against size or commercial success.
What kinds of conduct can raise antitrust concerns?
The FTC identifies exclusive supply or purchase agreements, tying, predatory pricing, and refusal to deal as examples of conduct that may be exclusionary or predatory. None is automatically a violation. Authorities examine the facts, including whether the conduct harms competition rather than merely disadvantaging a particular rival, and whether there is a legitimate business reason for it. FTC, “Monopolization Defined”.
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- Game Type: Board Game
- Game Theme: Harry Potter
- Minimum Number of Players: 2
- Maximum Number of Players: 6
- Length of Play: 60 minutes
A historical example: Microsoft and browser competition
The FTC’s guide recounts that Microsoft was found to have a monopoly over operating-systems software for IBM-compatible personal computers. In that historical case, the company’s conduct toward browser competition—including bundling Internet Explorer with Windows and making it technically difficult to avoid or use a competing browser—was at issue. This is a description of a past case, not a claim about Microsoft’s present market position or today’s operating-system and browser markets. FTC, “The Antitrust Laws”.
Why the word “monopoly” can be misleading
In everyday conversation, “monopoly” may mean a company is very large, popular, or the leading seller. In economics and antitrust, those features are not enough on their own. The analysis asks whether the firm has substantial, durable power in a defined market, how strongly customers and rivals constrain it, and whether its conduct crossed legal lines. U.S. antitrust standards also should not be assumed to describe the law in other countries, where rules may differ.
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