Full Form of RPM :
Revolutions Per Minute
RPM Full Form is Revolutions per minute. RPM is represented as rev/min, or r/min, or rpm. RPM is a measure that represents the frequency of rotation or revolution in one minute. This is specific to the rotations around fixed axis per minute. It is a measure of a mechanical component. In French, RPM is represented as tr/min (or) tours per minute. In German, the same is represented as u/min (or) Umdrehungen pro minute. Some of the typical examples where RPM is used for measurement are (1) A Flywheel energy storage system speed is 6000 to 200000 rpm, (2) A floppy disc speed is approximately 300rpm to 360rpm, (3) Gas turbine engine speed is in tens of thousands of rpm.
RPM Full Form – Resale Price Maintenance
Full Form of RPM is Resale Price Maintenance. RPM is a practice in which a producers and distributors consent that the latter will sell the product of the producer at specific prices, at or above the price floor (which is the minimum RPM) or at or below of price ceiling (which is maximum RPM). In case the reseller refrains from maintaining prices, either covertly or openly, the producer is at liberty to stop conducting business with it.
The utility of RPM is to prevent the resellers from competing too aggressively on the price, particularly in respect of fungible goods. If this is not prevented, it could result in steep fall of profits of both the producer and the resellers. Many claim the RPM is able to contain a failure in the market for distributional services by assuring that their distributors are able to recover the additional costs. Many producers defend the scheme of RPM saying that it ensures fair returns, which are beneficial to both reseller and the producer and this will, even more, reduce governmental interferences.
In the United Kingdom, the case of Dunlop Pneumatic Trye Co Ltd v Selfridge & Co Ltd is relevant in this context. In this case, the House of Lords decided that Dunlop could not cause enforcement of the agreement between the tyre buyer and the tyre seller for the payment of 5 pounds per sale provided under the liquidated damages clause if the tyres were sold not at but below that price. In this case, the enforceability of RPM was upheld. However, in the year 1964, the Resale Price Act was enacted and passed, which regards all RPM agreements against public interest unless they are proven otherwise. Ever since the 2007 Leegin decision, the RPM is not legal in the United States of America.