About the Glossary
Ipglossary.com is a practical glossary for managers, executives and technologists as well as lawyers working in IP in an international environment. The glossary provides practical explanations of key legal and business terms in a large number of technology related fields including intellectual property, licensing, venture capital, corporate and securities law, antitrust and competition law, and of course terms relevant to technology, in general. Read more
A business whose products are largely fungible (i.e., interchangeable) commodities. Such businesses are characterized by the sales being price-driven, i.e., that customers are primarily concerned and effected by price and not by other differentiating factors, e.g., quality, reputation, etc. In other words, the business lacks any USP. Cartels are more common in industries whose products are heavily commoditised as a way to resist price pressure, so companies in such business should have rigorous antitrust and competition law compliance programs.