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Glossary > Glossary - Pg. 248

Glossary 248 Equity Ownership interest in a corporation in the form of common stock or preferred stock. Exercise price The price specified in an option contract at which the full contract may be exercised. General partner Investor in a partnership who manages the business and is liable for its debts. Gray market Sale of trademarked goods through unauthorized channels. Guarantee The minimum amount of royalties to be paid to a licensor under a license. Generally non-re- coupable. Indemnification Agreement by one party to pay certain specified losses or damages incurred by another party. Injunction A court order prohibiting a person from doing something or requiring a person to do something. Instrument A document creating a legal right or obligation. IP Intellectual property. IRR The rate of return that would make the present value of future cash flows plus the final market value of an investment or business opportunity equal the current market price of the investment or opportunity.