What Is Meant by the Term "Government-Imposed Barrier to Entry

question 111

Essay

What is meant by the term "government-imposed barrier to entry"? Why would a government be willing to impose barriers to entering an industry?

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Definitions:

Negotiation

In regard to dispute settlement, a process in which parties attempt to settle their dispute without going to court, with or without attorneys to represent them. In regard to negotiable instruments, the transfer of an instrument in such a way that the transferee (the person to whom the instrument is transferred) becomes a holder.

Neutral Third Party

A third party without any interest or bias in the outcome of a negotiation, dispute, or legal matter, whose role is to assist in reaching a fair resolution.

Settlement

An agreement reached between parties in a dispute, before or after legal action, that resolves the issues.

Choice-of-Law Clause

A provision in a contract specifying which jurisdiction's laws will be applied in interpreting the contract.