How is Net Turnover defined in a legal contract?
- Net Turnover means the total revenue generated from the sale of products and services, deducting sales discounts, value added tax, and any other taxes directly associated with the revenue.
Seen in 30 SEC filings - Net Turnover means income from the supply of goods and services, after accounting for any discounts and levies on the revenue.
Seen in 2 SEC filings - Net Turnover means the total income from the sale of products and services related to the regular operations of a business, after accounting for deducting sales discounts and all taxes directly linked to the revenue.
Seen in 3 SEC filings
Please note that the last two definitions are based on fewer documents and may be less frequently used definitions.
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 net turnover’ yourself to verify these results. We are always keen to point people to source documents.
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
- Net Turnover means total income from sale of goods or services after deducting discounts and related taxes.
Relevant Contract Types
- Sales of Goods Contract
- Business Transfer Agreement
- Services Agreement
- Joint Venture Agreement
- Distribution Agreement
Relevant Circumstances
- Business acquisitions or mergers
- Negotiating commercial rental contracts
- Expanding product distribution
- Formulating partnership cooperation terms
Relevant Sectors
Genie Definition 2
- Net Turnover means revenue from standard business operations, deducting discounts and related taxes.
Relevant Contract Types
- Operating Agreement
- Licensing Agreement
- Management Agreement
- Franchise Agreement
Relevant Circumstances
- Establishing a new business operation
- Licensing intellectual property
- Franchising businesses
- Managing business operations
Relevant Sectors
Net Turnover means total income from sale of goods or services after deducting discounts and related taxes
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