embargo

Definition:
Stoppage by authority of the physical movement of trade, originally specific to ships, but now used in a much broader economic sense. Embargo is also used in the MARKETING context as a ban, particularly with regard to the release of information until a specified time and date. Information released by organizations for public interest to the MEDIA may have an 'embargo' placed upon it. By issuing information in advance of the time when it may be widely distributed allows time for the receiving organization to assess and comment upon the information. The organization receiving the information is expected to honour the request not to divulge the information before the stipulated time and date. For example, press releases about a company's annual reports or a chairman's statements may be made available on the understanding that the information they contain will not be available to the public until the time and date authorized. Exceptions have occurred where there is a breach of trust, but in most cases 'embargoes' are respected. News disseminators who respect the requests benefit as they continue to be supplied with information. Where information is divulged prematurely the errant organization often finds it is not subsequently favoured with information.

Cross-References:
[media] [marketing]

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