Glossary of Business Law Terms
Terms
Definitions
A
A Trademark Application is considered Abandoned, pursuant to 37 CFR 1.135 and 1.138, when it is removed from the Office docket of pending applications due to:
(A) Formal Abandonment, which may occur:
- By the applicant,
- By the attorney or agent of record, or
- By a registered attorney or agent acting in a representative capacity under 37 CFR 1.34 when filing a continuing application; or
(B) Failure by the applicant to take the required action within a specified time during the prosecution of the application.
Abandonment
The prcoess of removing a Trademark or Service Mark Application from the USPTO docket of pending applications.
Agent for Service of Process
An Agent for Service of Process (called “Registered Agent” or “Statutory Agent” in some states) is a “person” or “entity” designated by an LLC or Corporation to receive legal documents and government notices on behalf of a company.
Agreement
Definition
Amendment
Definition
Allegation of Use
A claim by the applicant of an Intent to Use trademark application that the trademark is being used in the stream of commerce.
Annual Meeting
Definition
Definition
Articles of Incorporation
The official document filed with a Secretary of State to form a Corporation.
Articles of Organization
The official document or form filed with a Secretary of State to form a Limited Liability Company.
Asset
Definition
Asset Purchase
Definition
Asset Purchase Agreement
A written contract whereby one party (the Seller) sells all or substantially all of its assets in a business to another party (the Buyer). Asset purchase agreements are normally used when the Buyer wants to purchase the assets of a business without taking on the liabilities. See also, Stock Purchase Agreement.
Definition
B
Board Meeting
Definition
Board Member
A member of the board of directors of a corporation, limited liability company, or non-profit organization.
Board of Directors
Definition
Business Law
The body of laws pertaining to business ownership, operation, and management.
Business Lawyer
An attorney whose law practice focuses on Business Law.
Bylaws
Definition
C
Certificate of Registration
A certificate provided by the United States Patent and Trademark Office (USPTO) evidencing that a trademark or service mark has been registered with the USPTO.
Definition
Charging Order
Definition
Co-Existence Agreement
Definition
Collective Mark
Definition
Compliance
Definition
Confidentiality Agreement
Definition
Conflicting Mark
Definition
Copyright
Definition
Definition
Copyright Law
Copyright Law is a type of Intellectual Property Law, created by The Copyright Act of 1976, that protects original works of authorship, such as books, movie scripts, photos, graphics, and art, just to name a few things. It gives the creator of a work the exclusive legal rights to use, reproduce, distribute, display, perform, and create derivative works based on that original work.
Copyright Lawyer
An attorney whose legal practice focuses on Copyright Law including Copyright Registration.
Corporation
Definition
Corporate Lawyer
A lawyer whose law practice is focused on Corporations, including Corporate Formation, Compliance, and representations.
D
Design Mark
A trademark or service mark registered in logo, icon, or graphic format rather than text only.
Dispute Resolution
Definition
Disbursement
Definition
Disclaimer
Definition
Dissolution
The process of dissolving a Corporation or Limited Liability Company by following the necessary formalities and filing the required documents with the Secretary of State.
Distribution
Definition
Domain Name
Definition
Due Diligence
Definition
E
Examining Attorney
The attorney assigned by the United States Patent and Trademark Office to review a Trademark Application to determine whether Registration of the applied-for mark will be granted or refused. The Examining Attorney may also require additional information or amendments to the application by issuing an Office Action.
F
Definition
First Right of Refusal Agreement
Definition
Formalities
Definition
G
Generic Term
Definition
Definition
H
–
Definition
I
Incontestability
Definition
Intellectual Property
Definition
Intent to Use
Definition
J
Judgment
Definition
K
–
Definition
L
Letter of Intent
Definition
Liability
Definition
Licensing
Definition
Licensing Agreement
Definition
Definition
Limited Liability Company
Definition
LLC
Abbreviation for limited liability company.
LOI
Abbreviation for letter of intent.
M
Meeting Minutes
Official notes taken during a Board of Directors, Shareholders, Members, or other official business meetings documenting the events that transpired during the meeting, including, but not limited to resolutions, ratifications, and other important votes and decisions made during such meeting. Meeting minutes are often required formalities that business entities must comply with.
Member
A Member is an individual or entity that owns a Membership Interest (ownership interest) in a Limited Liability Company.
Membership Certificate
An official certificate demonstrating an individuals or entity’s ownership interest in a Limited Liability Company.
Membership Interest
Evidence of an ownership interest in a Limited Liability Company that entitles the owner to a share of the LLC’s profits, losses, and voting rights. See also, Stock Certificate.
Merely Descriptive
Definition
Minute Book
Definition
N
NDA
Abbreviation for non-disclosure agreement
Non-Compete Agreement
Definition
Non-Disclosure Agreement
Definition
Non-Disparagement
Definition
Definition
Definition
O
Definition
Operating Agreement
Definition
P
Patent
Definition
Pre-Existing Application
Definition
Pre-Existing Mark
Definition
Principal Register
Definition
Privacy Policy
Definition
Promissory Note
Definition
Q
–
Definition
R
–
Definition
S
Section 2(d) Refusal
A 2(d) Refusal is a refusal to register a Trademark based on Section 2(d) of the Lanham Act. A Trademark Examining Attorney will issue a 2(d) Refusal if he or she believes that your applied-for Trademark is “likely to cause confusion” with an already Registered Trademark or a pending Trademark application. The purpose of a Section 2(d) Refusal is to prevent consumers from mistakenly believing your Goods or Services come from the same source as those associated with the pre-existing o r pending Trademark or Service Mark.
Securities
Definition
Security Agreement
Definition
Service Mark
Definition
Settlement
Definition
Settlement Agreement
Definition
Shareholder
Definition
Shareholder Buy/Sell Agreement
Definition
Shareholder Meeting
Definition
Special Meeting
Definition
Specimen
Definition
Statement of Information
Definition
Definition
Stock
Definition
Stock Certificate
A legally issued certificate evidencing ownership of shares of stock of a Corporation. See also, Membership Certificate.
Stock Holder
Another word for Shareholder.
Stock Purchase Agreement
Another word for Shareholder.
Supplemental Register
Another word for Shareholder.
T
Trademark
Definition
Trademark Application
Agreement
Trademark Examining Attorney
Agreement
Trademark Infringement
Agreement
Trademark Law
Agreement
Trademark Lawyer
Agreement
Trademark Registration
Agreement
Trademark Renewal
Agreement
Trade Search
Definition
Trade Secret
Definition
Trade Secret Agreement
Definition
U
UDRP
Abbreviation for the Uniform Domain Name Dispute Resolution Policy.
Uniform Domain Dispute Resolution Policy
The Uniform Domain Name Dispute Resolution Policy was established by the Internet Corporation for Assigned Names and Numbers (ICANN) to help resolve disputes between domain name registrants and those claiming to have protected rights in a registered domain name.
United States Patent and Trademark Office
Agreement
Abbreviation for the United States Patent and Trademark Office.
USPTO
Abbreviation for the United States Patent and Trademark Office.
V
–
Definition
W
Word Mark
A trademark or service mark that is registered in “text” format rather than in logo, icon, or graphic format.
X
–
Definition
Y
–
Definition
Z
–
Definition
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