having exclusive control over a commercial activity by possession or legal grant
If you refer to a business or its practices as monopolistic, you mean that it tries to control as much of an industry as it can and does not allow fair competition. controlling or trying to control an industry or business activity completely
Market situation in which many independent buyers and sellers may exist but competition is limited by specific market conditions. The theory was developed almost simultaneously by Edward Hastings Chamberlin in his Theory of Monopolistic Competition (1933) and Joan V. Robinson in her Economics of Imperfect Competition (1933). It assumes product differentiation, a situation in which each seller's goods have some unique properties, thereby giving the seller some monopoly power. See also monopoly; oligopoly