American Heritage® Dictionary of the English Language, Fourth Edition
- n. The right of certain stockholders to maintain ownership of a constant percentage of a firm's stock. Such stockholders have the first opportunity to purchase new stock in the firm proportionate to the percentage of shares already held.
- n. law The right of shareholders to maintain a constant percentage of a company's shares by receiving a proportionate fraction of any new shares issued, thus preempting any dilution
- n. the right granting to shareholders the first opportunity to buy a new issue of stock; provides protection against dilution of the shareholder's ownership interest
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