Define: Principal Owner

How is Principal Owner defined in a legal contract?

• Principal Owner means someone who possesses, has control, rights or a beneficial interest, either directly or indirectly. Seen in 57 SEC filings.
• Principal Owner means a person that has ownership either directly or indirectly, of a significant share of stock or membership interest, which represents roughly 10% or more of a corporation or limited liability company. Seen in 29 SEC filings.
• Principal Owner means anyone who owns, controls, or has voting rights or a beneficial interest. Seen in 27 SEC filings.
• Principal Owner means any person who own shares or interest of 10% or more in a contractor or subcontractor. The definitions of contractor and subcontractor are not provided here. Seen in 24 SEC filings.
• Principal Owner means someone who, either by expression, agreement, or means of control or understanding, owns at least 25% of the equity interests of a legal entity. Seen in 18 SEC filings.
• Principal Owner means an individual or entity that directly or indirectly owns a 10% or greater share in the franchisee. If the franchisee is a partnership, then each individual or entity who is or becomes a general partner is considered a Principal Owner, irrespective of the percentage of ownership interest. Seen in 14 SEC filings.
• Principal Owner means someone who directly or indirectly, owns, controls, votes, or has noteworthy stock or membership interest. Seen in 12 SEC filings.

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 principal owner' 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

• Principal Owner means a person or entity that, directly or indirectly, holds a significant portion of stock, membership interest, control, or voting rights.

Relevant Contract Type

• Shareholder Agreement
• Limited Liability Company Operating Agreement
• Membership Interest Purchase Agreement
• Voting Agreement

Relevant Circumstances

• When a person or entity acquires substantial equity interests in a company.
• During the drafting of an operating agreement for a Limited Liability Company.
• In situations involving the purchase or sale of membership interests.

Relevant Sectors

• Corporate Law
• Financial Services
• Private Equity

‍

Genie Definition 2

• Principal Owner means a partner who directly or indirectly holds a share or interest greater than a specified percentage in a partnership or similar entity.

Relevant Contract Type

• Partnership Agreement
• Franchise Agreement

Relevant Circumstances

• When establishing a new partnership or franchise.
• During the redistribution of partnership interests.

Relevant Sectors

• Franchising
• Partnership Law

‍