UBO, or unincorporated business organization, is a business arrangement used in lieu of a company or partnership. The investor acts as the settlor of the trust and gives the management rights to the trustee, who holds title to the property...
business organizations
ultra vires
Ultra vires is a Latin phrase, meaning "beyond the powers." Ultra vires plainly means an action by a company or its agent that exceeds the legal scope of its authority. In this instance, the scope of authority is granted by the company’s own...
unfair competition
The law of unfair competition encompasses torts that cause economic harm to a business through deceptive or wrongful business practices. Unfair competition can be broadly divided into two categories:
Unfair competition: This term is...unfair labor practices (ULPs)
Unfair Labor Practices: An Overview
Unfair labor practices (ULPs) refer to actions taken by employers or labor organizations that violate the rights of employees or employers as defined by various labor laws. These practices, prohibited...
unincorporated
Unincorporated generally describes an entity or organization that has not been formally established as a legal corporation. This term can also refer to something not mixed or combined with another entity.
In constitutional...
unincorporated business organization (UBO)
An unincorporated business organization (UBO) is a business arrangement used in lieu of a company or partnership. The investor acts as the settlor of the trust and gives the management rights to the trustee, who holds title to the property...
vertical privity
In business law, vertical privity is the relationship between companies in a distribution chain (e.g. a manufacturer and a distributor). Those in vertical privity are jointly liable for product defects in the vertical chain.
...voting trust
A voting trust is when individual shareholders, or a group, transfer their voting rights to a trustee, or a group of trustees. Voting trusts are a device for combining shareholder’s voting power as the trustee then controls a unified voting...
waive
To waive is to voluntarily relinquish or give up a right, claim, or privilege. It can apply to a variety of legal situations, such as knowingly giving up a legal right like a speedy trial or a jury trial, forgoing certain rights in a...
watered stock
Watered stock refers to shares issued by a corporation in exchange for assets that undercompensate for the stock’s value. This issue was prominent in the early 20th century when investors relied on the par value of stocks, which ensured a...