Definition of lock-in in English:

lock-in

noun

  • 1An arrangement according to which a person or company is obliged to deal only with a specific company.

    • ‘The people's choice will be based on factors like functionality, quality, and convenience, rather than on customer lock-in.’
    • ‘One of the reasons given for the failure of the C & C share issue is the substantial overhang of shares because the dominant shareholder would only agree to a lock-in of six months.’
    • ‘On maturity, investors will receive either the final value of the bond (a minimum of 100 per cent of the original amount invested) or the highest lock-in value, whichever is greater.’
    • ‘Six-month lock-ins allowed investment banks and management insiders to sell out their stakes.’
    • ‘This creates a lock-in condition for the customer, which means higher costs for upgrades, service and expansion.’
    • ‘Many people are interested in a viable alternative to the proprietary lock-in solutions available for other operating systems, and Ardour appears to moving along the right development path.’
    • ‘However, this deal comes with a £499 upfront arrangement fee, plus a two-year lock-in with a hefty early settlement penalty.’
    • ‘Although a lock-in in your friendly local pub may be most welcome, product lock-ins are usually a sign that something fishy is afoot.’
    • ‘Most industries can only engineer that level of customer lock-in by devious means, such as the software industry's use of proprietary file formats.’
    • ‘Customers are questioning the lock-in to any technology, even database.’
    • ‘Proprietary lock-in also seems to have been rather more of an issue when it came to communicating with central government systems than it was elsewhere, so Whitehall clearly has some distance to go before it can walk the talk.’
    • ‘The customer base is an important element of market power for aircraft manufacturers since there is at least to some extent a lock-in effect for customers once their initial choice of aircraft is made.’
    • ‘The scheme will have a tenure of three to seven years, and will have an initial lock-in period, as specified by each bank.’
    • ‘There were a number of interested parties, clearly, but at this point, I understand since this is a lock-in agreement, this is a done deal.’
    • ‘For example, it's possible to find a two-year fixed rate (with no lock-in after the two years is up) for as little as 4.15% a year.’
    • ‘But for insurance policies, the lock-in period is long.’
    • ‘The vendors preach no lock-ins, strict adherence to standards and openness all around.’
    • ‘When environments are stable, firms with a mix in which competences and lock-ins dominate are able to deepen the specificities, resulting in high productivity.’
    • ‘The other landlords in the town thought we were taking their lock-in trade so they wanted to get us closed down and, eventually, we were.’
    1. 1.1 A period during which a person or company is bound by the terms of a contract.
      as modifier ‘a lock-in period’
      • ‘A producer has an attractive and inelastic revenue source to the extent that "lock-in" makes switching to an alternative painful.’
      • ‘The scheme will have a tenure of three to seven years, and will have an initial lock-in period, as specified by each bank.’
      • ‘This means that when you use our services you are free from vendor lock-in.’
  • 2British A period during which customers are locked into a bar or pub after closing time to continue drinking privately.

    • ‘He was cynically lured into helpless addiction by the Perth scone barons in a lock-in at a local tea-room.’
    • ‘To relive the excitement of the lock-in, I'll be starting work at closing time tonight, and working through till breakfast.’
    • ‘I spend the evening - or part of it - with Himself Alone, and then we all head out for Iggy's bar; there's a lock-in after hours, and we're not home till three that morning.’
    • ‘He particularly liked the line in which we reported how drinkers were given the option of leaving before work began, or staying all-night for a lock-in.’
    • ‘It's that time in the early morning when mistakes are made - mistakes outside of still being at a lock-in in a darkened pub in Soho.’
    • ‘Apparently, the pub traditionally does lock-ins, but the brother would be on his own, and doesn't want to do it (he claims he wasn't supposed to be working tonight, as he's going somewhere very early tomorrow).’
    • ‘After much discussion we plumped for a pub in West London for a lock-in.’
    • ‘It's fun, with occasional lock-ins when I have been known to dance on the tables.’
    • ‘Drinkers inside last night were given the option of leaving the pub before work began or remaining inside for an all-night lock-in.’
    • ‘Once the pub has been cleared, customers will re-enter by a side door for a lengthy lock-in.’
    • ‘My father had to haul her out of one of the village pubs after midnight, where she was found enjoying a lock-in with a bunch of long distance lorry drivers.’
    • ‘One of the lock-ins I remember most clearly was on the night of the 1997 General Election.’
    • ‘A lot of the time I'm here before it opens and see all the food being delivered or I might stay for a lock-in and end up sweeping the floors.’
    • ‘I drank with them in the Bricklayer's Arms and enjoyed lock-ins at the pub on the corner of Curtain Road - The Mitre, is it?’
    • ‘The magazine says the pub's secluded location makes it perfect for the ultimate lock-in.’
    • ‘A heavy drinker who thought nothing of downing up to 30 pints a day, died following a late-night lock-in after being bailed by a court to live in a pub.’
    • ‘We arranged a good old-fashioned lock-in with the landlord.’
    • ‘It is also claimed he drank in late-night lock-ins at the Rattlebone and at parties afterwards in the basement of his Highgrove home.’
  • 3A protest demonstration in which a group locks itself within an office or factory.

    • ‘Many others are picketing the council in support of the lock-in.’
    • ‘The workers began a strike and held a lock-in, after refusing to allow 10 factory managers to leave.’

Pronunciation

lock-in