Collusion

Collusion is a deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading or defrauding others of their legal right. Collusion is not always considered illegal. It can be used to attain objectives forbidden by law; for example, by defrauding or gaining an unfair market advantage. It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities.^[1] It can involve "unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties".^[2] In legal terms, all acts effected by collusion are considered void.^[3]

^ O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. pp. 171. ISBN 0-13-063085-3.{{cite book}}: CS1 maint: location (link)
^ Collusion Law & Legal Definition
^ Collusion [1]. Archived 2008-01-09 at the Wayback Machine.

[1] O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. pp. 171. ISBN 0-13-063085-3.{{cite book}}: CS1 maint: location (link)

[2] Collusion Law & Legal Definition

[3] Collusion [1]. Archived 2008-01-09 at the Wayback Machine.

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