Cartel

{
  "id": "MLC-T-LAW-000876",
  "term": "Cartel",
  "field": "Law",
  "definition": "An agreement among competing businesses to control prices, limit production, or allocate markets, thereby reducing competition and increasing profits for the members. Such agreements are generally illegal under antitrust laws in many jurisdictions, as they harm consumers by artificially inflating prices and restricting choice. Examples include price-fixing agreements and bid-rigging schemes.",
  "url": "https://mlchart.com/terminology/law/cartel/"
}