Define: Otc

– OTC stands for “over-the-counter,” referring to medications or securities that can be purchased without a prescription or through a stock exchange.

– OTC medications are generally safe when used as directed, but it’s important to read and follow the instructions on the label and consult a healthcare professional if you have any concerns.

– OTC securities trading is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to ensure transparency and investor protection.

– Yes, you can sell OTC stocks without a broker, but it’s important to understand the risks and consider seeking professional advice before making any transactions.

– OTC stocks are generally considered riskier than stocks listed on major exchanges due to lower liquidity, limited public information, and higher volatility.

– OTC drugs can interact with prescription medications, so it’s important to consult a healthcare professional before using them, especially if you are taking other medications.

– OTC contracts are legally binding agreements between parties, and they are enforceable in court if one party fails to fulfill their obligations.

– OTC products can be recalled if they are found to be unsafe or if they do not meet regulatory standards. The manufacturer or distributor is responsible for initiating the recall.

– Selling OTC products requires compliance with regulations set by the Food and Drug Administration (FDA) and other relevant authorities to ensure safety and efficacy.

– If you have suffered harm from using an OTC product, you may have grounds to file a lawsuit for damages, especially if the product was found to be defective or improperly labeled. It’s important to consult a lawyer to discuss your options.