I'm looking for a business term to be applied to companies that are the only known providers of some good/service. "One-of-a-kind" and "unique providers" come to my mind at first, but they does not sound "business" enough to put on a contract or bid, for example.
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If Blue Moon Warez has a niche software product, one that is needed so infrequently that it isn't profitable enough for competitors to create their own versions and compete with Blue Moon, would Blue Moon Warez fall into the category you have in mind?– TimRCommented Jan 24 at 14:45
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I think the word boutique may be what you want, or close to it.– TimRCommented Jan 24 at 14:47
3 Answers
I think unique sounds fine, or you could also go with sole providers.
In more business-y terms, if you're company truly does dominate one specific product area, you could say you have a monopoly on the field - although that sounds a bit obnoxious to put in a description of your company...
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1Sole provider generally refers to a parent who has the only income in a family, at least in AmE usage; I've never heard it used to describe a business. Commented Jun 3, 2016 at 13:50
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1@MikeHarris, sole provider or sole source is used in my (U.S.) company exactly as Nick describes, and I don't think this usage is unusual. I was about to suggest it as an answer myself, in fact. I suspect this is a matter of context. If you rarely participate in discussions where this use of the term could arise, then you might not realize that the usage is common in such contexts.– PellMelCommented Jun 3, 2016 at 14:02
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@PellMel I have definitely heard sole source in the context of contracts and bids, but not sole provider, which I've only heard used as mentioned in my earlier comment. This is strictly anecdotal, though. Commented Jun 3, 2016 at 14:10
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2Sole source contracts refer to contracts that don't bother with a bidding process. One reason for bypassing the bidding phase may be that there is only one actual source, but there are other reasons such as non-qualified sources, disqualified sources, and restrictions from prior agreements. It is a class of contract, not a description of the supply situation. Commented Jun 4, 2016 at 1:40
The situation is called monopoly. The company has monopoly.
A monopoly is a situation in which a single company or group owns all or nearly all of the market for a given type of product or service. By definition, monopoly is characterized by an absence of competition
According to a strict academic definition, a monopoly is a market containing a single firm.
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1Thanks, but the context I look for is more related to uniqueness than domination.– tcbrazilCommented Jun 4, 2016 at 21:45
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Monopoly is the correct term. You would talk about a company "having a monopoly on X". The definition doesn't mention domination, although there is always the potential for domination when you are the only supplier.– Stuart FCommented Jan 24 at 13:12
Maybe "Hidden Champion" fits the bill?
Hidden champions are relatively small but highly successful companies that are concealed behind a curtain of inconspicuousness, invisibility, and sometimes secrecy. ... , a company must meet three criteria to be considered a hidden champion:
- Number one, two, or three in the global market, or number one on the company's continent, determined by market share
- Revenue below $5 billion
- Low level of public awareness
Their markets are mostly oligopolistic with intense competition.