Economic Definition of exclusive agreement. Defined.
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Term exclusive agreement Definition: An agreement commonly used in the late 1800s and early 1900s between a producer and an intermediary (such as a store) in which the intermediary agrees to sell only the producer's good, while the producer agrees not to provide the good to other intermediaries in the same market. This was commonly used by firms to obtain market control for their output. The use of exclusive agreements was specifically outlawed by the Clayton Act in 1914. However, modern firms continue to use exclusive agreements with varying degrees of success.