COLLUSION Meaning and
Definition
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Collusion is a term used to describe a secret and illegal agreement or collaboration between two or more individuals, organizations, or entities with the intention to deceive, manipulate, or defraud others for personal gain or advantage. It involves a covert understanding or cooperation to achieve a common goal, often at the expense of others. Collusion typically occurs in situations where individuals or entities with shared interests conspire together, using dishonest or deceptive means, to exert unfair influence or control over a particular situation or market.
This collaborative scheme generally involves the individuals or entities working in tandem to manipulate prices, control supply or demand, restrict competition, or engage in other fraudulent practices. The objective is usually to achieve an outcome that benefits the colluders while harming others in the process, such as maintaining artificially high prices or securing unfair advantages in a particular industry or market.
Collusion is considered illegal in most jurisdictions and is often treated as a serious offense. It is seen as a form of conspiracy or fraud that undermines fair competition, consumer trust, and market efficiency. Laws and regulations are in place to prevent collusion and promote fair business practices, aiming to maintain transparency, protect consumers and businesses, and ensure equal opportunities for all participants in a market or industry.
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A secret agreement between two or more persons for some evil purpose, as to defraud any one.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
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Etymology of COLLUSION
The word "collusion" originated from the Latin term "colludere", which can be broken down into two parts: "col", meaning "together", and "ludere", meaning "to play". In its original Latin form, "colludere" referred to a secret agreement or conspiracy between individuals to deceive or mislead others. Over time, the term was borrowed into Middle English as "collusio", retaining its original meaning of deceit or fraud. Eventually, "collusion" emerged as the modern English word to describe secret cooperation or collaboration for wrongful purposes, often relating to conspiracy or illegal activities.
Similar spelling words for COLLUSION
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