Define: Large Business

How is Large business defined in a legal contract?

• Large business means any business that is not owned by a woman, minority, or a service-disabled individual or any business that has more than a specified number of employees or gross receipts above a certain threshold over the previous three years. Seen in 23 SEC Filings
• Large business means an entity for which fifty or more people perform work for compensation during a given week, including full-time, part-time, or temporary workers, including those provided through a temporary services or staffing agency, or a similar entity. The phrase “large business” also refers to a business registered as a franchise or franchisee under a certain law or code. Seen in 5 SEC Filings
• Large business means an employer that on average employs a certain number of employees. Seen in 4 SEC Filings
• Large business means any type of legal entity including a corporation, partnership, limited liability company, or joint stock company that maintains a certain number of specific operating sites and central billing. Seen in 4 SEC Filings

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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.

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Genie Definition 1

Large Business means any non-minority run business operating beyond a set employee or revenue benchmark.

Relevant Contract Types

• Employment Agreement
• Shareholder Agreements

Relevant Circumstances

• When designing business ownership and operational structures
• When initiating employment contracts or partnership arrangements

Relevant Sectors

• Technology Startups
• Manufacturing Industry

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Genie Definition 2

Large Business means an entity where fifty-plus people work weekly, holding franchise or franchisee status under [Governing Law].

Relevant Contract Types

• Franchise Agreement
• Partnership Agreement

Relevant Circumstances

• For establishing franchise relationships
• When incorporating business entities

Relevant Sectors

• Retail Sector
• Food and Beverage Industry

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Genie Definition 3

Large Business means entities maintaining [Number of Sites] with centralized billing arrangements.

Relevant Contract Types

• Service Agreements
• Telecommunication Agreements

Relevant Circumstances

• When entering into telecommunication contracts
• When establishing multi-site operations

Relevant Sectors

• Telecommunications Industry
• Real Estate

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