In the context of a patent, an inventor implements and uses unique idea(s) to create usable and working patentable subject matter, from a product to a process and its development and improvement that will solve a specific problem with...
contracts
irreparable injury
See "irreparable harm"
jingle rule
Under common law, in determining the extent to which partnership creditors whose debts are not fully satisfied by partnership property can assert claims to the assets of individual partners, the jingle rule gave partnership creditors priority...
jobber
A person who purchases and resells goods, usually in large quantities; a middleman. For example, someone who purchases gasoline in tank-car lots from a refiner and owns storage or bulk plants from which he delivers gasoline in...
just compensation
A payment the government is required to tender under the Fifth Amendment’s takings clause for property it has taken through eminent domain for some public purpose. The amount due for the property is typically its fair market value,...
K
K is the shorthand symbol for contract, which is primarily used by lawyers and law students.
[Last updated in April of 2022 by the Wex Definitions Team]
kickbacks
A "kickback" is a term used to refer to a misappropriation of funds that enriches a person of power or influence who uses the power or influence to make a different individual, organization, or company richer. Often, kickbacks result from a...
laissez-faire
Laissez-faire refers to an economic philosophy that advocates for minimal government interference in the economy.
The phrase “laissez-faire” originates with the French physiocratic economists, who were early proponents of a...
land use
“Land use” is a term that is used to describe the different purposes land may be used for. This includes both economic and cultural uses of land. Common types of land use include:
Agricultural Residential Industrial Commercial...latent ambiguity
Latent ambiguity arises when a language of the writing is clear on its face but contains ambiguity in light of the extrinsic evidence that suggests more than one way of interpretation. For example, when a writing unambiguously...