Lock-In
/ˈlɒk.ɪn/
Definitions
- (n.) A contractual arrangement that restricts a party from switching to competitors for a certain period.
The software company enforced a lock-in period to prevent clients from switching providers.
- (n.) The condition where a consumer is dependent on a vendor's products or services due to high switching costs.
Customers often face lock-in when they have invested heavily in proprietary technology.
Forms
- lockins
Commentary
Often used in contracts to secure commitments; drafters should clearly define duration and scope to avoid ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.