Deregulation

Deregulation regulatory trend toward elimination of legal restraints on competition in industries previously served by a single firm in an attempt to improve customer service and lower prices through increased competition.

Definition Two:

Deregulation is the freeing of corporations from legal constraints. In the past, such constraints had a much larger role in protecting the environment, workers, and consumers from exploitation. Deregulation advocates argue that such regulations are costly and ineffective, and that corporations are capable of regulating themselves.

Deregulation is the process of reducing government involvement in the regulation of business by eliminating legal restraints on competition.