Grey market is a term used to describe a market where goods and services are sold unofficially, outside the authorized distribution channels. It is also referred to as parallel market. Other synonyms for grey market include underground market, unauthorised market, black market, and shadow market. The grey market is generally frowned upon as it can lead to unfair competition and the violation of intellectual property rights. Despite this, it is often a source of cheaper products and a way for consumers to access goods that may not be available through official channels. It is important to note, however, that engaging in grey market activity can have legal and financial consequences.