business organizations

Franchisee

Definition from Nolo’s Plain-English Law DictionaryAn individual or entity that is granted a franchise.

Definition provided by Nolo’s Plain-English Law Dictionary.

Franchiser

Definition from Nolo’s Plain-English Law DictionaryAn individual or entity that grants a franchise; also spelled franchisor.

Definition provided by Nolo’s Plain-English Law Dictionary.

Freeze-out

Any tactic used by majority shareholders to deprive minority shareholders of governing control of a corporation. It is used to pressure the minority shareholders to sell their stock in the corporation, usually in the context of an acquisition.

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Freeze-out Provision

Provision in a corporate charter that allows an acquiring company to buy the stock of minority shareholders in exchange for fair cash value for a certain period of time, usually two to five years, after the acquisition.

See also

Squeeze-...

General Counsel

Definition

The senior attorney that represents a business; can be an in-house position or a partner from an outside law firm.

General Partner

Managing member of a partnership, who retains unlimited joint and several personally liability for the debts and obligations of the partnership.

See also

PartnershipLimited Partnership

Going Concern

A business that operates with the expectation of indefinite existence. In bankruptcy law, going concerns are distinguished from businesses that are being liquidated or broken into smaller entities.

Golden Parachute

An agreement between a company and its top executive providing lucrative benefits in the event employment is terminated, usually due to a change in company ownership.

Greenmail

Definition

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.

See alsoHostile takeoverRaiderAnti-...

Hiring Firm

Commonly refers to a business that hires one or more independent contractors. Unlike an employer, a hiring firm does not have to withhold tax, contribute to Social Security and Medicare, or provide workers compensation for an independent contractor,...

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