Essential Terms

An event that occurs when one company takes over the operational management decisions of another smaller, weaker company, which continues to operate under the name of the stronger company.

An individual engaged to work on a principal's behalf who owes a fiduciary responsibility to act strictly in the principal's best interest.

A formal method of alternative dispute resolution (ADR) where parties vest authority in a neutral third-party decision maker (an arbitrator) who hears their case and issues a decision or arbitration award.