Latest Legal Definitions

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Joint work

For copyright purposes, a collaboration between two or more authors in which their contributions are joined into a single cohesive work. Each author of a joint work has equal rights to register and enforce the copyright, regardless of how their shares in the work are divided.

Imprison

To put a person in prison or jail or otherwise confine him as punishment for committing a crime.

Healthcare directives

Legal documents that allow you to set out written wishes for your medical care–and to name a person to make sure those wishes are carried out. See living will; durable power of attorney for healthcare.

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Bail bond

The money posted by a “bondsman” for a defendant who cannot afford his bail. The defendant pays a certain portion, usually 10%. If the defendant fails to appear for a court hearing, the judge can issue a warrant for his arrest and threaten to “forfeit,” or keep, the money if the defendant doesn’t appear soon. [...]

Copyright office

A branch of the U.S. Library of Congress that oversees the implementation of the federal copyright laws, including issuing regulations and processing applications for the registration of copyrights.

Accumulation trust

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick’s benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

Invest

(1) To formally grant power or authority to someone. For example, when the President of the United States is inaugurated, he is invested with all the powers of that office. (2) To contribute money to a business venture, or to buy property or securities, with the intention and expectation of making a profit.

Tender offer

A public offer to purchase stock at a specified price per share, usually done to gain a controlling interest in a corporation.

Bailiff

A court official usually classified as a peace officer (sometimes as a deputy sheriff, or marshal) and usually wearing a uniform. A bailiff’s main job is to maintain order in the courtroom. In addition, bailiffs often help court proceedings go smoothly by shepherding witnesses in and out of the courtroom and handing evidence to witnesses [...]

Exemption trust

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest [...]

Dedimus potestatum

An outdated legal procedure that permitted a party to take and record the testimony of a witness before trial, but only when that testimony might otherwise be lost. For example, a party to a lawsuit might use the procedure to obtain the testimony of a witness who was terminally ill and might not be able [...]

Blue sky laws

The laws that aim to protect people from investing in sham companies that consist of nothing but “blue sky.” Blue sky laws require that companies seeking to sell stock to the public submit information to and obtain the approval of a state or federal official who oversees corporate activity.