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preemption

or pre-emption

[pree-emp-shuh n] /priˈɛmp ʃən/
noun
1.
the act or right of claiming or purchasing before or in preference to others.
Origin of preemption
1595-1605
1595-1605; < Medieval Latin praeëmpt(us) bought beforehand (past participle of praeëmere) + -ion. See pre-, emptor
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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