by Jason M. Gordon | Feb 23, 2025 | HR, Employment, Labor, & Discrimination
What is an Ex Gratia Payment?Ex-gratia is a Latin word that means favor or goodwill. An ex-gratia payment of ex-gratia settlement that an employer, government, or insurance agency gives to a person as a sign of goodwill, rather than as a liability or an obligation....
by Jason M. Gordon | Feb 23, 2025 | Real Estate, Personal, & Intellectual Property
What is Escheat? According to the United States law, an escheat is a process of reversing ownership of a persons property to the state, in case the person dies without an heir or they go missing for a long time. In an escheat, a person loses all assets, including bank...
by Jason M. Gordon | Feb 23, 2025 | Business Transactions, Antitrust, & Securities Law
What is Going Private?Going private refers to a financial or business transaction or a series of financial and business transactions that transforms a publicly-traded company into a private establishment. When such a transaction happens, or when a firm goes goes...
by Jason M. Gordon | Feb 23, 2025 | Government, Legal System, Administrative Law, & Constitutional Law
What is Infrastructure?Infrastructure refers to all the physical systems of a business or a nation. It includes transportation, communication, sewage, utility, etc. Infrastructures tend to be high cost systems and they are crucial to running a nation or any...
by Jason M. Gordon | Feb 23, 2025 | Insurance & Risk Management
What is Incurred But Not Reported? Incurred but not reported refers to a reserve account type which is used the insurance sector to document claims and and events that have transpired on a client, but has not been reported to the insurance firm. In IBNR cases, an...
