How is Controlled Business defined in a legal contract?
- Controlled Business means any part of an insurer's or agent's title insurance business referred to it by a producer, if the producer or their associate, or both, have a financial interest in the insurer or the agent to whom business is referred. Seen in 16 SEC filings
- Controlled Business means the business known as the MHS business, which provides services, and manufactures, markets, distributes and sells software products designed to manage the cost and quality of care. Seen in 11 SEC filings
- Controlled Business means any business in which the public officer or any member of the public officerβs household has an ownership interest that amounts to more than 50 percent interest. Seen in 10 SEC filings
- Controlled Business means that portion of the business of title insurance of a title insurer that is referred to it by all those producers of title business who have a financial interest in the title insurer, and by all associates of those producers. Business is referred if there is influence over the selection of the person with whom the business is placed. Seen in 5 SEC filings
Please note that certain definitions have been omitted due to not meeting the criteria written in the instructions.
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Which definition should you use?
π€ has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Controlled Business means any business referred to a party by a producer, where there is a financial interest in that party.
Relevant Contract Types
Relevant Circumstances
- Business acquisition deals
- Partnerships and alliances
- Strategic business collaborations
Relevant Sectors
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Genie Definition 2
Controlled Business means a business in which an official or household member owns more than a [number]% interest.
Relevant Contract Types
Relevant Circumstances
- Business Ownership Changes
- Merger and Acquisition Deals
- Investment Decisions
Relevant Sectors
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Genie Definition 3
Controlled Business means any operation offering services, including the creation and distribution of software products, handling cost and quality management.
Relevant Contract Types
Relevant Circumstances
- Software Development Deals
- Service Contracts
- Start-up and Scale-up Business Deals
Relevant Sectors
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