A prepayment penalty clause is common in mortgage contracts, and it specifies that if the borrower pays down or pays off the mortgage early, usually within the first five years of the loan, a penalty will be levied. The prepayment penalty...
business organizations
principal place of business
A principal place of business generally refers to where a corporation's officers direct, control, and coordinate the corporation's activities. It is also often referred to as the corporation's "nerve center." Determining a corporation's...
private company
A private company is a business entity whose securities do not trade on public markets. Compare to public company. Private companies can be structured as sole proprietorships, partnerships or corporations, and can range in size from a single...
private placement
Private placements are an offering of securities to institutions and sophisticated investors, as opposed to public offerings (e.g. an initial public offering (IPO)).
OverviewGenerally, any offering must comply with the...
pro forma
Pro forma is a Latin term meaning made or done as a formality. In securities law, pro forma refers to financial statements that are prepared in advance of a transaction and projects the anticipated results of the transaction. For example,...
promoter
A promoter is broadly defined as someone who encourages or incites a certain behavior. In corporate law, a promoter is the founder or organizer of a corporation or business venture; the person who takes the initiative to create or organize a...
property
Property is anything (items or attributes/tangible or intangible) that can be owned by a person or entity. Property is the most complete right to something; the owner can possess, use, transfer or dispose of it. According to California Civil...
proprietary interest
A proprietary interest is a property right; an interest held by a property owner together with all appurtenant rights; the interest in something held by the owner such as a shareholder in a corporation, a farmer in a crop, or a storekeeper in...
proprietor
Proprietor refers to an owner, i.e. someone who has legal and exclusive ownership of something. In particular, it refers to the owner of a sole proprietorship, in which case it is also called sole proprietor.
A sole...
proprietorship
A proprietorship is a form of business organization in which one person owns all the assets and assumes all the debts of the business. It is also referred to as sole proprietorship, or individual proprietorship. The owner of the...