profession. 1. A vocation requiring advanced education and training; esp., one of the three traditional learned professions — law, medicine, and the ministry. “Learned professions are characterized by the need of unusual learning, the existence of confidential relations, the adherence to a standard of ethics higher than that of the market place, and in a […]
A stock-purchase program that allows investors to reinvest their dividends, and perhaps convert additional voluntary payments, into shares of the entity’s common stock, usu. with no sales charge, and sometimes at a discount from the stock’s market price. • Although the investor never receives the cash, it is still treated as income to the investor.
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An association of business organizations having similar concerns and engaged in similar fields, formed for mutual protection, the interchange of ideas and statistics, and the establishment and maintenance of industry standards. • A trade association may be composed of members of a single industry (e.g., the Chemical Manufacturers Association) or members having a common interest
parallel imports. Goods bearing valid trademarks that are manufactured abroad and imported into the United States to compete with domestically manufactured goods bearing the same valid trademarks. • Domestic parties commonly complain that parallel imports compete unfairly in the U.S. market. But U.S. trademark law does not prohibit the sale of most parallel imports. —
cartel (kahr-tel), n. 1. A combination of producers or sellers that join together to control a product’s production or price. 2. An association of firms with common interests, seeking to prevent extreme or unfair competition, allocate markets, or share knowledge. [Cases: Monopolies 12(1.14, 1.16).C.J.S. Monopolies §§ 54–55, 73–74, 77, 80–82, 85, 87, 93, 105, 143,
appraisal trinity. The three most commonly accepted methods of appraising real property: the market approach, the cost approach, and the income approach. See MARKET APPROACH; COST APPROACH; INCOME AP-PROACH. [Cases: Evidence 601(4). C.J.S. Evidence §§ 1338, 1346–1350.]
forestall (for-stawl), vb. 1. To prevent (an event, result, etc.). 2. Hist. To intercept or obstruct (as a person on a royal highway). 3. Hist. To prevent (a tenant) from coming on the premises. 4. Hist. To intercept (as a deer reentering a forest). 5. Hist. To buy (goods) for the purpose of reselling at
American depository receipt. A receipt issued by an American bank as a substitute for stock shares in a for-eign-based corporation. • ADRs are the most common method by which foreign companies secure American shareholders. Companies that offer ADRs maintain a stock listing in their domestic market in their domestic currency, while the ADRs are held
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leverage, n. 1. Positional advantage; effectiveness. 2. The use of credit or borrowed funds (such as buying on margin) to improve one’s speculative ability and to increase an investment’s rate of return. 3. The advantage obtained from using credit or borrowed funds rather than equity capital. 4. The ratio between a corporation’s debt and its