Definition of Collusion
What does the term "collusion" mean? What is meant by the term "collusion"?
Collusion is an agreement between multiple parties for a fraudulent or deceitful purpose.
For instance, in a game of cards, if two people are "colluding" with each other, this means that they have entered into a secret agreement to cheat the other players at the table.
Let's take a look at a couple of other examples of "collusion":
1. In a fictional sports league, the owners of all of the franchises reach an agreement to severely limit the amount of money that they pay to free agent players. This would be collusion.
2. The owners of a number of local gas stations have a meeting and decide that they will all be raising their prices by X amount. This secret agreement would operate to the detriment of the consumer, which would make it a clear case of collusion.
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