məˈnäp(ə)lē, -li noun
( -es ; see sense 6 )
Etymology: Latin monopolium, from Greek monopōlion, monopōlia, from mon- + -pōlion, -pōlia (from pōlein to sell); probably akin to Middle Low German vēle for sale, Middle Dutch veile, veil, Old High German fāli, feili, Old Norse falr for sale, Sk panate he barters, trades
1. : ownership or control that permits domination of the means of production or the market in a business or occupation usually for controlling prices and that is achieved through an exlusive legal privilege (as a governmental grant, charter, patent, or copyright) or by control of the source of supply (as ownership of a mine) or by engrossing a particular article or commodity (as in cornering the market) or by combination or concert of action — compare duopoly , oligopoly
2. : exclusive possession
no country has a monopoly on morality or truth — Helen M. Lynd
3. : the exclusive legal privilege of a monopoly
4. : the commodity to which the monopoly relates
5. : a company or combination having a monopoly