A security accepted for trading on a securities exchange. • The issuing company must have met the SEC’s registration requirements and complied with the rules of the particular exchange. — Also termed listed stock. See DELISTING. [Cases: Exchanges 13.10. C.J.S. Exchanges §§ 17–18.]
restraint of trade. 1. A limitation on business dealings or professional or gainful occupations. 2. Antitrust. An agreement between or combination of businesses intended to eliminate competition, create a monopoly, artificially raise prices, or otherwise adversely affect the free market. • Restraints of trade are usu. illegal, but may be declared reasonable if they are
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Rejection of a patent claim on the ground that a person of ordinary skill in the art could not clearly understand it. • For example, terms used in more than one sense could make the meaning unclear. — Also termed Section 112 rejection. [Cases: Patents 101(6).]
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water right. (often pl.) The right to use water from a natural stream or from an artificial canal for irrigation, power, domestic use, and the like; RIPARIAN RIGHT. — Also termed aquatic right. [Cases: Navigable Waters 39; Waters and Water Courses 40–47, 141, 168. C.J.S. Navigable Waters § 82; Waters§§ 12–14, 20, 297–304, 370–375, 760–761,
A trademark that not only is distinctive but also has been used and heavily advertised or widely accepted in the channels of trade over a long time, and is so well known that consumers immediately associate it with one specific product or service. • Only famous marks are protected from dilution. Eight nonexclusive statutory factors
United States Customs Service. An agency in the U.S. Department of Homeland Security responsible for collecting import duties on goods, wares, and merchandise, and for enforcing customs and related laws. • The Customs Service was created in 1863. 12 Stat. 665. It was transferred from the Department of the Treasury in 2003. — Also termed
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incidental, adj. Subordinate to something of greater importance; having a minor role (the FAA determined that the wind played only an incidental part in the plane crash).
Work reasonably essential to the public’s economic, social, or moral welfare as determined by the community standards at a particular time, and (formerly) excepted from the operation of blue laws. See BLUE LAW. [Cases: Sunday 7. C.J.S. Sunday §§ 17–19, 32–33.]
union certification. A determination by the National Labor Relations Board or a state agency that a particular union qualifies as the bargaining representative for a segment of a company’s workers — a bargaining unit — because it has the support of a majority of the workers in the unit. — Also termed certification of bargaining
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foreclose, vb. To terminate a mortgagor’s interest in property; to subject (property) to foreclosure proceedings. [Cases: Mortgages 320. C.J.S. Mortgages §§ 490–491, 495, 559, 568.] “Should the mortgagor default in his obligations under the mortgage, the mortgagee will seek to ‘foreclose’, — i.e., ‘end’ or ‘close’ the mortgagor’s rights in the security. After taking the