How is Business Justification defined in a legal contract?
- Business Justification means a set of standards dictating that certain reasons for a sale, such as appeasement of significant creditors and the sheer requirement for a quicker process, are unacceptable. The decision-maker will need to consider the potential results from multiple factors before endorsing a sale. An assessment may contain seven notable elements to evaluate, but acknowledges that other parameters might be pertinent too. Seen in 1 SEC filing.
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 business justification' 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
- Business Justification means the standards that rule out certain sale reasons, and the need for evaluation before sale approval.
Relevant Contract Types
Relevant Circumstances
- Sale of assets or business divisions
- Entering into new partnerships or collaborations
- Transferring ownership or control of a company
Relevant Sectors
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Business Justification means the standards that rule out certain sale reasons, and the need for evaluation before sale approval
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