Business definition: Copy, customize, and use instantly
Introduction
The term "Business" refers to any entity or activity engaged in commercial, professional, or economic operations. It encompasses organizations of various structures, including corporations, partnerships, sole proprietorships, and other entities that conduct trade, provide services, or generate revenue. A clear definition of "Business" is crucial in contracts to establish the rights, responsibilities, and obligations of the parties involved. It helps prevent ambiguity, ensures legal clarity, and defines the scope of commercial activities covered by an agreement.
Below are multiple definitions of "Business" used in different contractual contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Business" as a commercial entity
This definition ties "Business" to an organization engaged in trade or commerce.
"Business" means any entity, enterprise, or organization engaged in commercial, industrial, or professional activities for profit or other economic purposes.
Definition of "Business" as a legal entity
This definition connects "Business" to a legally recognized organization.
"Business" refers to any corporation, partnership, sole proprietorship, or other legal entity that engages in economic activities.
Definition of "Business" as a profit-seeking venture
This definition links "Business" to activities intended to generate income.
"Business" means any lawful commercial, industrial, or service-related endeavor undertaken for financial gain.
Definition of "Business" as a trade or occupation
This definition applies "Business" to professional activities.
"Business" refers to any profession, trade, or occupation carried out for profit or livelihood.
Definition of "Business" as an operational enterprise
This definition ties "Business" to active commercial operations.
"Business" means any ongoing concern engaged in providing goods or services in exchange for compensation.
Definition of "Business" as a corporate structure
This definition connects "Business" to organizational frameworks.
"Business" refers to a structured entity formed under applicable laws to engage in economic transactions.
Definition of "Business" as a commercial establishment
This definition links "Business" to physical or virtual locations.
"Business" means any store, office, factory, or other establishment where commercial activities are conducted.
Definition of "Business" as a financial enterprise
This definition applies "Business" to economic activities involving capital investment.
"Business" refers to an organization engaged in economic activities requiring financial management and investment.
Definition of "Business" as a legally registered entity
This definition ties "Business" to official registration requirements.
"Business" means any entity that has been registered under the relevant laws of its jurisdiction for the purpose of engaging in commercial activities.
Definition of "Business" as a going concern
This definition connects "Business" to an entity that operates continuously.
"Business" refers to an enterprise that is actively operating and expected to continue in the foreseeable future.
Definition of "Business" as a self-employed endeavor
This definition links "Business" to individually owned and operated ventures.
"Business" means any independent economic activity conducted by an individual or sole proprietor.
Definition of "Business" as a private enterprise
This definition applies "Business" to non-governmental organizations.
"Business" refers to any entity operating in the private sector, independent of government ownership or control.
Definition of "Business" as an economic activity
This definition ties "Business" to activities generating goods or services.
"Business" means any systematic activity conducted to produce, distribute, or trade goods and services.
Definition of "Business" as an industry segment
This definition connects "Business" to sectors of economic activity.
"Business" refers to any category of economic activity, including manufacturing, retail, finance, or technology.
Definition of "Business" as an entrepreneurial venture
This definition links "Business" to startups and new enterprises.
"Business" means any commercial venture initiated by an entrepreneur to develop and sell products or services.
Definition of "Business" as a multinational corporation
This definition applies "Business" to companies operating in multiple countries.
"Business" refers to an entity conducting operations across international borders, subject to multiple jurisdictions.
Definition of "Business" as a non-profit organization
This definition ties "Business" to mission-driven enterprises.
"Business" means an entity engaged in economic activities, whether for profit or organized as a non-profit entity pursuing social objectives.
Definition of "Business" as a franchise operation
This definition connects "Business" to licensed commercial models.
"Business" refers to an enterprise that operates under a franchise agreement, using a recognized brand and business model.
Definition of "Business" as a public company
This definition links "Business" to entities with publicly traded shares.
"Business" means any company whose ownership is distributed through publicly traded shares on a stock exchange.
Definition of "Business" as a private company
This definition applies "Business" to non-publicly traded entities.
"Business" refers to any privately held company that is not listed on a public stock exchange.
Definition of "Business" as a partnership
This definition ties "Business" to shared ownership models.
"Business" means any commercial entity operated by two or more individuals or entities in a partnership arrangement.
Definition of "Business" as a corporate subsidiary
This definition connects "Business" to controlled entities.
"Business" refers to any entity that is majority-owned or controlled by a parent company.
Definition of "Business" as a service provider
This definition links "Business" to companies focused on non-physical products.
"Business" means an enterprise primarily engaged in providing professional, technical, or consumer services rather than manufacturing goods.
Definition of "Business" as a manufacturing enterprise
This definition applies "Business" to companies producing physical goods.
"Business" refers to any entity engaged in the production, assembly, or fabrication of tangible products for sale.
Definition of "Business" as an e-commerce operation
This definition ties "Business" to online commercial activities.
"Business" means any entity conducting commercial transactions through digital or internet-based platforms.
Definition of "Business" as an agricultural enterprise
This definition connects "Business" to farming and related activities.
"Business" refers to any entity engaged in agricultural production, including farming, livestock, and food processing.
Definition of "Business" as a financial institution
This definition links "Business" to banks and lending institutions.
"Business" means any entity engaged in banking, investment, lending, or other financial services.
Definition of "Business" as a consulting firm
This definition applies "Business" to advisory services.
"Business" refers to any entity providing expert advice and strategic guidance to other organizations or individuals.
Definition of "Business" as an insurance provider
This definition ties "Business" to risk management enterprises.
"Business" means any entity engaged in underwriting, issuing, or administering insurance policies.
Definition of "Business" as a research and development entity
This definition connects "Business" to innovation-focused activities.
"Business" refers to any entity dedicated to the development of new technologies, products, or scientific advancements.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.