Definition:
Take refers to the act of acquiring or attaining possession. This can involve obtaining ownership of an item, such as a house or land. It can also involve unlawfully appropriating something, which is considered illegal. In certain circumstances, the government may seize someone’s property for specific purposes. Additionally, in relation to animals, taking refers to the act of capturing or killing them and subjecting them to human authority.
The term “take” can be used in various legal contexts to refer to gaining or obtaining possession. For instance, in property law, taking means acquiring ownership of real property. In criminal law, taking refers to the act of stealing. In eminent domain cases, taking refers to the government’s acquisition of property for public use. Lastly, in the context of the Endangered Species Act, taking refers to reducing wild animals to human control through killing or capturing. These examples demonstrate the different applications of the term “take” in different legal scenarios.
A take refers to the acquisition of property or assets by one party from another party.
A hostile takeover is when one company attempts to acquire another company without the approval or consent of the target company’s management.
A friendly takeover is when one company acquires another company with the approval and consent of the target company’s management.
A tender offer is a public offer made by a company to purchase a significant portion or all of the outstanding shares of another company.
A merger is a legal process where two or more companies combine to form a new company.
An acquisition is a legal process where one company acquires another company by purchasing its assets or shares.
Due diligence is the process of investigating and evaluating a company’s financial, legal, and operational status before a takeover or acquisition.
A letter of intent is a document that outlines the terms and conditions of a proposed takeover or acquisition.
A non-disclosure agreement is a legal contract that prohibits the parties involved in a takeover or acquisition from disclosing confidential information to third parties.
A break-up fee is a fee paid by the target company to the acquiring company if the takeover or acquisition fails to go through due to certain circumstances, such as regulatory issues or the target company accepting a better offer.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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