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vertical agreement n
: 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.
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.