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Simple English definitions for legal terms

monopolization

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A quick definition of monopolization:

Monopolization is when one company or person has complete control over a certain market or industry. This means they can set prices and keep other competitors out. It is against the law to try to get a monopoly on purpose, but it is okay if it happens naturally because of having a better product or being smarter in business. Attempting to get a monopoly is also against the law if it involves trying to destroy competition and there is a high chance of success.

A more thorough explanation:

Definition: Monopolization is the act of obtaining a monopoly, which is when a company or individual has complete control over a particular market or industry. In federal antitrust law, monopolization is considered an offense with two elements:

  1. The possession of monopoly power within the relevant market, which means having the power to set prices and exclude competitors.
  2. The willful acquisition or maintenance of that power, as opposed to growing or developing as a result of a superior product, business acumen, or historical accident.

For example, if a company controls all the oil refineries in a particular region and can set prices as high as they want, they are considered to have a monopoly on oil refining in that area. If they actively work to prevent other companies from entering the market, they could be guilty of monopolization.

Attempted monopolization: This is the effort to monopolize any part of interstate or foreign commerce. It consists of three elements:

  1. A specific intent to control prices or destroy competition in the relevant market.
  2. Predatory or anticompetitive conduct.
  3. A "dangerous probability" of success in achieving monopoly in the relevant market.

For example, if a company tries to buy up all the suppliers of a particular raw material, they may be attempting to monopolize that market. If they engage in anticompetitive behavior, such as threatening suppliers who do business with their competitors, they could be guilty of attempted monopolization.

monopolium | monopoly leveraging

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13:34
i don't think it has a detrimental effect on your chances of admission
13:34
but also you don't need to tell them anything so lol
Can y'all help me understand something lol. What does it mean for an app to "go complete"? Is that when the school has reviewed it and made a decision?
13:35
Na, it's when they have all the required information
Gotcha. So what would be the difference between received and completed?
Does complete entail like the app + LORs?
13:35
correct
That makes sense. Thank you!
13:36
complete basically means they've acknowledged receipt and it's ready to go under review whenever they start the deliberative process
Quillinit
13:40
I still haven't had Chicago or Cornell go complete, but I think that's just how they be
13:41
when did you submit
CaringEquableGuppy
13:42
How do you know when an application is complete? Is it on LSAC or the school's portal?
13:43
it'll be on the school-specific portal
Quillinit
13:44
when they opened
Quillinit
13:45
they both say something along the lines of "received and waiting to be processed"
13:48
anyone have good resources for revising a personal statement for reuse after applying with it last cycle?
13:49
Any guesses when Cornell and Penn CRS fee waivers will go out?
13:51
@Quillinit: from my recollection, chicago and cornell collapse complete/UR1 into a single step, so they may simply not be ready to begin reviewing applications
13:52
i think it's fair to assume, barring a handful of schools like UVA, most schools won't begin reviewing applications in earnest until the beginning of next month at the earliest, so it wouldn't be surprising to hear that applications are just sitting in the queue
13:54
@oakenrays: I was just gonna write a new one personally but I think you want to make it recognizably different from your previous PS
13:56
@baddestbunny: definitely agree that some revision and additional information is warranted but, my why law is the same... I guess just tell the same story in a different way
14:03
ugh fineeee I'll write a new stupid essay
14:07
yeah I told my last essay about a formative experience and am trying to update it now to be about what I’ve learned since that experience
recently wrapped up interview
i re-wrote my PS this cycle when I reapplied
fire drill at work
so lit
Quillinit
15:10
oh fun @info-man, Chicago just changed to complete today, so we'll see
boglue
15:23
do you have to have lawhub advantage for the lsd status checker to work
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