Definitions
1.nounA situation, by legal privilege or other agreement, in which solely one party (company, cartel etc.) exclusively provides a particular product or service, dominating that market and generally exerting powerful control over it.
2.nounAn exclusive control over the trade or production of a commodity or service through exclusive possession."A land monopoly renders its holder(s) nearly almighty in an agricultural society."
3.nounThe privilege granting the exclusive right to exert such control."Granting monopolies in concession constitutes a market-conform alternative to taxation for the state, while the crown sometimes bestowed a monopoly as an outrageous gift."
4.noun(metonymy) The market thus controlled.
5.noun(metonymy) The holder (person, company or other) of such market domination in one of the above manners.