market

Place of commercial activity in which goods, commodities, securities, services, etc., are bought and sold. Zemel v. Commercial Warehouses, 132 N.J.L. 341, 40 A.2d 642, 643.

The region in which any commodity or product can be sold; the geographical or economic extent of commercial demand. A public time and appointed place of buying and selling; also purchase and sale. It differs from the forum, or market of antiquity, which was a public marketplace on one side only, or during one part of the day only, the other sides being occupied by temples, theaters, courts of justice, and other public buildings.

In a limited sense, "market" is the range of bid and asked prices reported by brokers making the market in over-the-counter securities. Opper v. Hancock Securities Corp., D.C.N.Y., 250 F.Supp. 668, 675.

By the term "market" is also understood the demand there is for any particular article; as, "the cotton market is depressed." Is also an abbreviated term for "stock market" or "commodity market".

See also common market

- current market value.

- clerk of the market

@ geographic market

In antitrust context, that geographic area in which a product is sold and in which there is or is not competition. It generally implies agreement allocating different areas to each competitor with the understanding that the other competitors will not sell in those areas. Timken Roller Bearing Co. v. U. S., 341 U.S. 593, 71 S.Ct. 971, 95 L.Ed. 1199.

A relevant "geographic market" for purposes of assessing monopoly power is the territorial area in which businessmen effectively compete. Telex Corp. v. International Business Machines Corp., D.C.Okl., 367 F.Supp. 258, 336.

Within broad geographic market, well-defined submarkets may exist which, in themselves, constitute "geographic markets" for antitrust purposes. U. S. Steel Corp. v. F. T. C., C.A.Ohio, 426 F.2d 592, 596.

See also product market

- relevant market, below.

+ geographic market

In antitrust law, that part of a relevant market that identifies the physical area in which a firm might have market power. It is the territorial area in which businessmen effectively compete. Telex Corp. v. International Business Machines Corp., D.C.Okl., 367 F.Supp. 258, 336

@ listed market securities

The market value of a security as reflected by transactions of that security on the floor of an exchange.

@ open market

A market wherein supply and demand are expressed in terms of a price. Product market. In antitrust context, a market in which competitors agree among themselves to limit the manufacture or sales of products so as to prevent competition among themselves. Hartford Empire Co. v. U. S., 323 U.S. 386, 65 S.Ct. 373, 89 L.Ed. 322.

@ public market

A market which is not only open to the resort of the general public as purchasers, but also available to all who wish to offer their wares for sale, stalls, stands, or places being allotted to those who apply, to the limits of the capacity of the market, on payment of fixed rents or fees.

@ thin market

A market for publicly traded securities in which the number of transactions and/or the number of securities offered for sale or purchase at any one time are relatively few. In a thin market a single substantial purchase or sale order may cause a significant price movement

@