Define: Personal Gain

How is Personal Gain defined in a legal contract?

• Personal Gain means a benefit or advantage that relates specifically to a person, not to a business or group. Seen in 9 SEC filings.
• Personal Gain means financial benefit for the individual. Seen in 2 SEC filings.
• Personal Gain means a financial benefit for a family member. Seen in 1 SEC Filing.
• Personal Gain means abusing one's official capacity for a desired personal advantage. Seen in 1 SEC Filing.

‍

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

Personal Gain means a benefit or advantage specifically relating to an individual, not a business or group.

Relevant Contract Types

• Employment Contract
• Independent Contractor Agreement
• Non-disclosure Agreement
• Partnership Agreement

Relevant Circumstances

• Negotiations over contract terms
• Disciplinary proceedings against an employee/contractor
• Disputes about the distribution of partnership profits

Relevant Sectors

• Professional Services
• Healthcare
• Technology

‍

Genie Definition 2

Personal Gain means a financial advantage attained by an individual or family member.

Relevant Contract Types

• Investment Agreement
• Shareholder Agreement
• Loan Agreement

Relevant Circumstances

• Mapping out the financial terms of an investment
• Deciding on the distribution of company dividends
• Setting out the terms of a loan and its repayments

Relevant Sectors

• Finance
• Real Estate
• Start-ups

‍

Genie Definition 3

Personal Gain means a sought advantage obtained through misuse of one's official capacity.

Relevant Contract Types

• Operating Agreement
• Corporate Bylaws
• Director Service Agreement

Relevant Circumstances

• Where there is an alleged violation of official duties
• When reviewing a company's operational guidelines
• Assessing conflicts of interest among directors

Relevant Sectors

• Corporate Law
• Government
• Nonprofits

‍