ver·ti·cal agreement | \ ˈvər-ti-kəl- \
Legal Definition of vertical agreement
: an agreement among economic competitors on different levels of production or distribution that affects competition — compare horizontal agreement
Note: Unlike horizontal agreements, vertical agreements are not considered illegal per se under antitrust laws, but they must withstand judicial scrutiny to be held valid.
Love words? Need even more definitions?Merriam-Webster unabridged
Words at Play
Ask the Editors