Definition of "lock-in" []

• Alternative spelling of lock in. (noun)
• An illegal but widely-tolerated invitation-only gathering in a British pub or ale-house, after the end of licensing hours, to allow regular customers the opportunity to enjoy further drinking time. (noun)
• A situation in which members of an industry have agreed to adopt a certain standard and have retooled their production to meet this standard, thus making it very costly to change to a different standard. (noun)

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• "Absolute lock-in occurs when leaving is virtually impossible."
• "Troopers say several youths had been returning from a so-called lock-in at a church in Memphis."
• "3 - Economic lock-in occurs when it does not make rational economic sense to change vendors, because the combined costs and benefits of staying outweigh the combined costs and benefits of leaving."