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What is a rip-off?

What is a rip-off? Here are some definitions.

Noun
  1. (countable) A bad deal; an unfair price or rate.
  2. A theft or robbery.
  3. A scam.
  4. A copy, especially one that is illegal or inferior.
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Examples
The mortgage brokers and rip-off contractors are the runners and corner boys.
This accident, sickness and unemployment cover is a right royal rip-off, as this article reveals!
Remind me how the FSA protects investors from unscrupulous companies and salespeople and rip-off products?
And perhaps more importantly, most authors don't want to name names when it comes to pointing out bad products or rip-off hosting companies, of which there are far too many.
But, despite my chagrin at what I regard as a rip-off, I have booked two tickets.
A while back there was a discussion on this forum about how the film was basically a rip-off of some director or company.

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