What are the ways to gain a monopoly?
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Gaining a monopoly is of course something that is interesting for all entrepreneurs, is it still possible to make one? If so, how?
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I turned this question into a wiki, feel free to add possible answers. – Alain Raynaud 12 years ago
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@Alain Raynaud Good idea. I have never tried that before. – David 12 years ago
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@Alain Raynaud I cannot see that this worked out as a good idea. Now it turned out as a badly rated question, with no answers (apart from my initial points) – David 12 years ago
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Generally speaking, if a question is trying to build a list of possible answers, then it's more appropriate to be a wiki, since there is not one best answer. That being said, the question itself may not attract many answers. – Alain Raynaud 12 years ago
1 Answer
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A monopoly can be achieved the following ways:
- Getting perfect patent coverage
- Owning land will sometimes create a local monopoly. For example a skicenter
- Being dominant in an area of business where network effect is strong and there are barriers to changing. (I thought about Facebook until Google+ came along. I do not have other good examples).
- Having an exclusive sales deal with a monopolistic producer
- Being the only provider who has been approved by an approval agency or government
Of course, as with all monopolies, if one exploits the position too much, competition will come.
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