How is Independent Business defined in a legal contract?
- Independent Business means a business unit within a country designated by an executive committee from time to time. The unit operates at arm's length because it is pending a decision regarding a possible disposal, or it operates under significantly distinct conditions, demonstrated by a lack of participation in some or all of the main support services within the country. Seen in 5 SEC Filings
- Independent Business means a business that isn't closely associated with another business through shared ownership, affiliation, employee sharing, facilities, equipment, or profit and loss sharing. If a business maintains a close relationship with a non-disadvantaged business, it isn't considered an independent business. Seen in 2 SEC Filings
- Independent Business means a business that operates fewer than [number] businesses of the same name and isn't part of a multinational or international company. Seen in 2 SEC Filings
- Independent Business means any business unit within a country designated by an executive committee from time to time. The unit operates independently because it is either pending a decision regarding a possible disposal, or it operates under conditions significantly distinct from other support services within the country. Seen in 2 SEC Filings
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of independent business' yourself to verify these results. We are always keen to point people to source documents.
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Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Independent Business means a business unit operating at arm's length within a designated territory, distinct from other units, pending disposal or operating under unique conditions.
Relevant Contract Type
Relevant Circumstances
- When a business is undergoing a spin-off
- In instances of subsidiary set-ups
- During the start of a franchise
Relevant Sectors
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Independent Business means a business unit operating at arm's length within a designated territory, distinct from other units, pending disposal or operating under unique conditions.
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