Vertical integration exists when a company produces its own inputs (forward integration) or owns its source of output distribution (backward integration).

Name: Vertical integration exists when a company produces its own inputs (forward integration) or owns its source of output distribution (backward integration).
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This is the definition of vertical integration, where a company either produces its own inputs (forward integration) or owns its source of output distribution (backward integration).

Vertical Integration Exists When a Company Produces Its Own Inputs