collusion, secret agreement and cooperation between interested parties for a purpose that is fraudulent, deceitful, or illegal. An example of illegal collusion is a secret agreement between firms to fix prices. ... They may merely refrained from undercutting each other's prices or from selling in each other's market areas.

What law makes collusion illegal?

Collusion is illegal in the United States, Canada and most of the EU due to antitrust laws, but implicit collusion in the form of price leadership and tacit understandings still takes place.

Does collusion have a legal definition?

Merriam-Webster's Dictionary defines collusion as "secret cooperation for an illegal or dishonest purpose," but Webster's New World College Dictionary calls it "a secret agreement for fraudulent or illegal purpose; conspiracy." According to Black's Law Dictionary, collusion is "a deceitful agreement or compact between ...