A lobster trap (British English: lobster pot) is an effective way for fishermen to catch many lobsters at once when lobster fishing. The trap usually consists of a wooden frame surrounded by a rope mesh. A piece of bait, often fish, is placed inside the trap.

A lobster trap is an anti-takeover strategy used by target firms. In a lobster trap, the target firm issues a charter that prevents individuals with more than 10% ownership of convertible securities (includes convertible bonds, convertible preferred stock, and warrants) from transferring these securities to voting stock.