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From: Webster's Revised Unabridged Dictionary (1913)

 Mo·nop·o·ly n.; pl. Monopolies
 1. The exclusive power, or privilege of selling a commodity; the exclusive power, right, or privilege of dealing in some article, or of trading in some market; sole command of the traffic in anything, however obtained; as, the proprietor of a patented article is given a monopoly of its sale for a limited time; chartered trading companies have sometimes had a monopoly of trade with remote regions; a combination of traders may get a monopoly of a particular product.
    Raleigh held a monopoly of cards, Essex a monopoly of sweet wines.   --Macaulay.
 2. Exclusive possession; as, a monopoly of land.
    If I had a monopoly out, they would have part on 't.   --Shak.
 3. The commodity or other material thing to which the monopoly relates; as, tobacco is a monopoly in France. [Colloq.]