Glossary

antitrust case. A lawsuit in which a business or businesses are accused of economic harm due to excessive or unfair influence on market outcomes.

arbitration. Dispute resolution facilitated by a neutral-binding third party.

back pay. In employment law, back pay concerns the amount of labor earnings that a person could reasonably earn in the past.

barrier to entry. In the context of markets, an encumbrance that blocks additional firms from joining the market as sellers.

bench trial. A trial with a judge but no jury.

breach of contract. One party’s wrongful harm to another caused by failure to uphold a business contract between them, for which courts provide a remedy.

bundling. A situation in which a firm offers for sale a combination ...

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