Editing Collusion (section)

{{Short description|Agreement between two or more parties, sometimes illegal and therefore secretive}}
{{For|a secret agreement by people to commit something criminally or civilly wrong or illegal|Conspiracy}}
{{Other uses}}
{{Competition law}}
{{wiktionary|collude|collusion}}
'''Collusion''' is a deceitful agreement or secret cooperation between two or more parties to limit open [[competition]] by deceiving, misleading or defrauding others of their legal right. Collusion is not always considered illegal. It can be used to attain objectives forbidden by [[law]]; for example, by defrauding or gaining an unfair market advantage. It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities.<ref>{{cite book
 | last1 = O'Sullivan | first1 = Arthur
 | author-link = Arthur O'Sullivan (economist)
 | first2 = Steven M. | last2 = Sheffrin
 | title = Economics: Principles in Action
 | url = https://archive.org/details/economicsprincip00osul | url-access = limited | publisher = Pearson Prentice Hall
 | year = 2003
 | location = Upper Saddle River, New Jersey 07458
 | pages = [https://archive.org/details/economicsprincip00osul/page/n187 171]
 | isbn = 0-13-063085-3}}</ref>
It can involve "unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties".<ref>[http://definitions.uslegal.com/c/collusion/ Collusion Law & Legal Definition]</ref> In legal terms, all acts effected<!-- "effect" is used intentionally as a verb meaning "to make or bring about". See dictionary. --> by collusion are considered [[void (law)|void]].<ref>Collusion [http://encarta.msn.com/encyclopedia_761571249/Collusion.html]. {{Webarchive|url=https://web.archive.org/web/20080109224939/http://encarta.msn.com/encyclopedia_761571249/Collusion.html|date=2008-01-09}}.</ref>