2. Noun. (British) 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. ¹
3. Noun. (legal) 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. ¹
¹ Source: wiktionary.com