lockup option

lockup option. A defense against a corporate takeover, in which a friendly party is entitled to buy parts of a corporation for a set price when a person or group acquires a certain percentage of the corporation’s shares. • An agreement of this kind may be illegal, to the extent it is not undertaken to serve the best interests of the shareholders. — Often shortened to lockup. [Cases: Corporations 312(5). C.J.S. Corporations §§ 500–501, 503, 524.]

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词条贡献者

法律翻译Jessie，在一家亚洲一流律师事务所的北京办公室担任全职法律翻译，擅长翻译有关港口、铁路、公路与海运的法律文件。