What is it called, when a Large Business or Corporation sees that some product, invention, or medicine will destroy or reduce the size of their market or consumer base; and they either purchase the rights to it, or pay them not to make it; so that they can continue business or enlarge their profit.

I remember hearing about stuff like this happening multiple times, I can't remember the citations, nor can I remember if anyone actually gave a name to this phenomena.

If you can't find a name for it, I will accept a list of 2 or more occurrences as an answer.

  • 2
    Not a history question at all. Go ask English.SE. – Semaphore Oct 25 '14 at 3:26
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    Suggested migration to politics.se, as they're willing to cover non-historical macro economics. – Samuel Russell Oct 25 '14 at 6:34
  • I personally would like that migration, I was looking for stack economics can't believe I didn't find it. ty ;) – GlassGhost Oct 26 '14 at 5:48

There's no specific word for it, but you can call it "buying out the competition" or "keeping a stranglehold on the market".

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We call it "unfriendly acquisition".

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