Presently, I am studying Social Science in business management at Cegep. I am in the last year of my two-year college program in which I had administration courses like "Business marketing", "Firm finances" and "Business dynamics". Next year, when attending the University of Montreal, I want to change my field of study to business law. To achieve my law degree, I will have to complete 3-4 years of university to get my bachelor of law degree and then 1 year at Quebec Bar School. This glossary will be for young students who need to be enlightened about business law and enrich their vocabulary. My glossary will help students to be more effective in their reading because a law major requires a lot of reading, and learning new definitions will help them understand what they are reading more easily. This glossary contains 20 terms and includes definitions, pronunciation, translations, pictures, and examples for better understanding. I found the definitions in the Actively-Engaged-Online book on page 251 and on the internet, the definitions are from Google. I want my readers to read carefully this glossary and then decide wisely if this major interests them and if so, what they could do to make it easier for them to acquire these new terms in their vocabulary.
acquisition
noun
A business combination that occurs when one company buys most or all of another company's shares.
Example: Metro Plus completed the acquisition of Jean Coutu for 4.5 billion dollars.
fr: acquisition
agreement
noun
A negotiated and usually legally enforceable understanding between two or more parties.
Example: The two firms decided to sign the agreement and drop the mutual charges.
fr: contrat
arbitration
noun
A dispute-resolution process in which the parties select a neutral third party to resolve their claims.
Example: The two companies agreed to settle their dispute through arbitration rather than going to court.
fr: arbitrage
bankrupt
adjective
When a person or organization declared in law is unable to pay outstanding debts.
Example: This company was declared bankrupt by the law and discharged from its debts, this company will have to close.
fr: faillite
breach of contract
phrase
The act of breaking the terms set out in a contract.
Example: This company filed a lawsuit after the retired employee committed a breach of contract by not adhering to the non-compete agreement
fr: rupture de contrat
compliance
noun
A company adheres to the applicable rules and laws.
Example: This company operates in full compliance with the law.
fr: conformité
copyright
noun
A legal right that protects original works from being reproduced, published, or performed without permission.
Example: Copyright law helps protect this company's competitive advantage and brand identity by preventing other companies from copying its work.
fr: droit d'auteur
due-diligence
noun
The demonstration that someone took reasonable steps to meet a legal requirement.
Example: The bank reviewed with due-diligence on the financial report of this company before approving the loan.
fr: diligence adéquate
employment law
noun
The set of rules that govern the relationship between employees and employers.
Example: Due to employment law, this employee must give a two-week notice to their employer before quitting.
fr: droit du travail
franchise
noun
A business model where a company (franchiser) licenses its brand, processes, and knowledge to a business owner (franchisee).
Example: This entrepreneur decided to invest in a franchise of this well-known fast-food brand.
fr: franchise
fraud
noun
A dishonest and illegal activity committed by individuals or companies who target businesses in order to make a profit.
Example: This company was charged with fraud after it was discovered that it had been falsifying its financial statements.
fr: fraude
injunction
noun
A court order requiring a person to do or cease doing a specific action.
Example: The court issued an injunction against this company to stop producing the product.
fr: injonction
liability
noun
A legal obligation or responsibility that a company has to another party.
Example: This company did not pay the liability it owed to the other company and now needs to repay its debt.
fr: responsabilité
litigation
noun
The process of taking legal action.
Example: This company fears litigation if it doesn't upgrade its sanitary rules.
fr: litige
merger
noun
A combination of two things, especially companies, into one.
Example: These two companies decided to merge since they needed to combine their forces.
fr: fusionnement
non-compete agreement
noun phrase
A contract that prevents an employee from competing with their former employer after they leave their job.
Example: This employee won't be able to work for the competing company since he signed a non-compete agreement with his previous employer.
fr: accord de non-concurrence
partnership
noun
A legal agreement between two or more people or entities to share ownership and profits of a business.
Example: These two companies decided to form a partnership to expand their market reach and share profits.
fr: partenariat
regulation
noun
It refers to rules and legislation that govern how individuals and businesses can operate in order to follow the law.
Example: This company will be sued if it doesn't respect the mandatory regulations.
fr: règlement
tax compliance
noun phrase
Adhering to tax laws and regulations by correctly reporting income, expenses, and other financial details to the relevant tax authorities.
Example: This company hired a consultant to ensure full tax compliance and avoid any legal issues.
fr: conformité fiscale
trademark
noun
A symbol, word, or words legally registered or established by use as representing a company or product.
Example: This company's trademark is protected by law, ensuring that no other company can use similar names or logos.
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