A legally enforceable claim on the assets of a business or property of an individual. In business, liability results from a breach of duty or obligation by act or failure to act. Liability also refers to the debt or obligation of a business in contrast to its assets.
Latin phrase meaning "between or amongst themselves". In a business law context, the phrase is commonly used in trust instruments to signal that only the rights of shareholders or trustees are involved.
The legal process of creating a corporation. Typically, this involves one or more incorporators filing the Articles of Incorporation with the Secretary of State in which incorporation is desired and paying required fees.
The area of a home also utilized as a business' primary office. Business-related expenses incurred from the home office may be tax deductible if the business owners spends over half of his or her time working from there.
Also may refer to the headquarters of a business from which policy is established and management functions performed.
Refers to a target company buying back its shares from a potential raider at a price higher than that offered to other stockholders, in exchange for the recipient ending the attempted hostile takeover.