Legal Definitions - relevant market

A relevant market is a market that can be monopolized, meaning a market where a company can increase prices without losing too many sales. It includes both the product market and the geographic market.

For example, if a company sells a unique type of phone case and there are no other similar products available, then that company has a monopoly in the product market. If the company can raise the price of the phone case without losing too many sales, then the market is relevant.

Another example is a geographic market. If a company sells snow shovels in a city where it snows frequently and there are no other stores selling snow shovels nearby, then the company has a monopoly in that geographic market. If the company can raise the price of the snow shovels without losing too many sales, then the market is relevant.