n. An exclusive privilege to carry on a traffic.n. Specifically, in Eng. constitutional hist., and hence sometimes in American law, such an exclusive privilege when granted by the crown or state to an individual, association, or corporation, for the sake of the pecuniary advantage of its exclusiveness.n. In political economics, and as used in a general sense in law, such an exclusive privilege to carry on a traffic, or deal in or control a given class of articles, as will enable the holder to raise prices materially above what they would be if the traffic or dealing were free to citizens generally.n. That which is the subject of a monopoly: as, in Bengal opium is a monopoly.n. The possession or assumption of anything to the exclusion of other possessors: thus, a man is popularly said to have a monopoly of any business of which he has acquired complete control.n. Loosely, a company or corporation which enjoys a monopoly.