GAAP

GAAP means U.S. Generally Accepted Accounting Principles in effect at the relevant time, except that if the U.S. Securities and Exchange Commission permits or requires entities with securities that are publicly traded in the U.S. to employ International Financial Reporting Standards in lieu of Generally Accepted Accounting Principles, then that entity may employ International Financial Reporting Standards as GAAP for purposes of this subpart.

Source

37 CFR § 385.2

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Scoping language

Unless otherwise specified, capitalized terms in this part shall have the same meaning given to them in 17 U.S.C. 115. For the purposes of this part, the following definitions apply:

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