Legal Dictionary of Pakistan

cartel

n. 1. A combination of producers or sellers that join together to control a product's production or price. 2. An association of firms with common interests, seeking to prevent extreme or unfair competition, allocate markets, or share knowledge. 3. Int'l law. An agreement between belligerents about the means of conducting whatever relations they allow during wartime; esp., such an agreement regarding the exchange of prisoners. - Also spelled chartel. - cartelize (kahr-ta-llz or kahr-tel-Iz), vb.