Meaning of the word pre-emption in English

What does pre-emption mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

pre-emption

US /ˌpriːˈemp.ʃən/
UK /ˌpriːˈemp.ʃən/

Noun

1.

the purchase of goods or shares by one person or party before anyone else; the right to do this

Example:
The company exercised its right of pre-emption to buy back the shares.
The contract included a clause for pre-emption in case of a sale.
2.

the action of buying something or taking action before someone else does

Example:
The government's quick action was a pre-emption of a potential crisis.
His early announcement was a strategic pre-emption of his rival's plans.