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What does in theory mean?

Looking for the meaning or definition of the word in theory? Here's what it means.

Prepositional phrase
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Examples
The trades were in theory all supervised and regulated by the livery companies, one for each trade.
Such cross activation could, in theory, also occur between widely separated areas.
But if the market ruled supreme in theory during the 1980s and 1990s, reality was different.
The precautionary principle sounds good in theory, but in practice it is a nightmare.
The executives of international oil corporations, avowed globalizers in theory, are in practice the friends of regressive political economies.
A four of a kind is closed, and can no longer be extended, and the same would apply in theory to a run of 14 cards with an ace at each end.

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