Definition, Meaning & Synonyms

sole-provider

noun

/soʊl prəˈvaɪdər/

Definition

A sole-provider is the single source of a good or service, responsible for all aspects of its supply.

Examples

The company was the sole-provider of the new software used in all the branches.
As the sole-provider, they had a unique advantage over their competitors.
Being the sole-provider can lead to increased responsibility and potential for higher profits.

Meaning

The term describes a situation where one particular entity is the only supplier of a specific product or service, eliminating competition in that area.