Definition of lock-in in US English:



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

    • ‘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 people's choice will be based on factors like functionality, quality, and convenience, rather than on customer lock-in.’
    • ‘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.’
    • ‘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 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.’
    • ‘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.’
    • ‘The vendors preach no lock-ins, strict adherence to standards and openness all around.’
    • ‘The scheme will have a tenure of three to seven years, and will have an initial lock-in period, as specified by each bank.’
    • ‘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.’
    • ‘This creates a lock-in condition for the customer, which means higher costs for upgrades, service and expansion.’
    • ‘Six-month lock-ins allowed investment banks and management insiders to sell out their stakes.’
    • ‘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.’
    • ‘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.’
    • ‘Customers are questioning the lock-in to any technology, even database.’
    • ‘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.’
    • ‘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.’
    • ‘However, this deal comes with a £499 upfront arrangement fee, plus a two-year lock-in with a hefty early settlement penalty.’
    • ‘But for insurance policies, the lock-in period is long.’
  • 2A 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.’