Pools

A pool may be defined as on Association for organization of business established through federation of various units whose member seek control over price by combining some factor in the price making process in a common aggregate and distributing aggregate among the units. The income of combining units may be aggregated, and after deducting the expenses of working the pool, the balance may be divided in a certain proportion. A pooling agreement is always make by member unity producing and dealing in similar products.
So pool is a business federation in which a member of business units combine in order to control prices and eliminate competition among themselves by regulating their total output market or income.