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Another simple definition of an authority site is whatever site comes up first in the SERPs. That site is considered an "Authority Site" by Google according to its relevance algorithm.
Consider though that a company web site could become an authority site in a very short time by marketing hype. For example, look at jibjab.com.
They got a lot of press, even tv & radio air time and email referrals. They had a marketing buzz.
Any product can become a household name to the point that every search engine brings up their company web page when a unique brand name is entered as keyword search criteria.
Back to you.
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