How is Economic consideration defined in a legal contract?
- Economic consideration means any payments, fees or gifts. Seen in 7 SEC filings
- Economic consideration means something of actual monetary value. Seen in 3 SEC filings
- Economic consideration means any payments, fees or gifts, among other things of value. However, it does not include salaries, wages or benefits provided by federal, state, or local government agencies. Seen in 3 SEC filings
- Economic consideration means revenue obtained from any [agreement] for the development, marketing, sale, or distribution of [product] to third parties. This can include research and development payments, payments in the form of equity in [organization], payments for equity in [organization] which exceed the value of such equity, license fees, maintenance fees, [milestones], and royalties. Seen in 2 SEC filings
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
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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
Economic consideration means any payments, fees, gifts or items of value except for governmental salaries, wages and benefits.
Relevant Contract Types
Relevant Circumstances
- Setting up a payment plan.
- Compensation for professional services.
- Licensing intellectual property rights.
Relevant Sectors
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Genie Definition 2
Economic consideration means revenue derived from agreements for the development, marketing, sales or distribution of products.
Relevant Contract Types
Relevant Circumstances
- Negotiating distribution deals.
- Establishing partnership for product development and sales.
- Franchise licensing.
Relevant Sectors
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