When and how does the agency relationship terminate? The establishment, duration, and termination of the agency relationship are generally governed by the agreement between the principal and agent. In the absence of an express agreement, several default rules apply regarding the point at which the agency relationship terminates. Below are common rul...

What is a Feeder Fund? A feeder fund is a type of investment fund that funds most of its investments through a master fund. A feeder fund has all of its investment capital in the master fund. The relationship between a feeder fund and a master fund is primarily used by hedge funds to pull more capital together so as to have a larger account. Profits...

What is a Special Purpose Vehicle or Special Purpose Entity? A Special Purpose Vehicle or Special Purpose Entity (SPV/SPE) is a corporate entity created by a parent company to carry out specific transactions or business different from that of the parent company. Parent companies establish SPVs to fulfill specific objectives such as protection agains...

Design Patent Cost: An Overview of Start to Finish Fees So you have developed a new product that has a unique look or appearance. You now wish to keep others from copying your unique creation. A utility patent would allow you to protect the functional aspects of your new invention. If the functional aspects already exist (meaning you cannot claim th...

What are Unfair Labor Practices? Unfair labor practices are actions executed by employers that the 1935 National Labor Relations Act prohibits. There are certain practices in the United States labor law that are regarded illegal and unfair to employees. Actions by employers and trade unions that violate the rights and protection of workers are calle...

What is an Abstract of Title? An Abstract of Title is a document that lists the transactions related to a certain piece of real estate. The title referenced in the term is the property deed. The abstract of title is an important document for real-estate analysis. It shows all of the transactions a particular piece of property has been involved in, i...

What is the National Labor Relations Act? The National Labor Relations Act of 1935 (NLRA), also known as the Wagner Act, was passed in 1935 to strengthen the protections afforded private-sector employees to organize or bargain collectively. The fundamental premise behind the Norris-LaGuardia Act was to allow employers and labor organizations to work...

What is the Council of Economic Advisers? The council of economic advisers refers to three members of distinguished economists that provides the president with advices on economic policies. What does the Council of Economic Advisers Do? Established under the Employment Act of 1946, the US Council of Economic Advisers aims to examine the total and di...

What is a Gray Knight? A gray knight refers to a potential acquirer in a public merger or acquisition that takes advantage of a hostile takeover to assume control of the company. The possible buyer is also known as a secondary or separate party in a takeover to the first bidder and the target company. This potential buyer may either offer a better a...

What is a Remittance? Remittance refers to cash sent by migrant workers to other people back in their country of origin. Remittance is derived from the term remit, which means to send back. Remittances can be business payment or personal money. How is a Remittance Sent? There are a number of methods for sending remittance. We have methods such as: W...