***Vertical restraints*** *are agreements between firms operating at different stages of the same production or supply chains(manufacturers, wholesalers, and retailers, for example). They commonly take the form of obligations or restrictions - like fixed or minimum resale price set by manufacturer, supply exclusivity agreements, territorial restrictions on sales etc.* *They can increase efficiency and provide other conditional positives on the agreed parties, but - without proper control - can often result in limiting competition.* #entertainment source