Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

beneficial ownership

Read a random definition: Municipal

A quick definition of beneficial ownership:

Beneficial ownership refers to a situation where someone owns something, like a stock or property, but it's held in someone else's name for safety or convenience. The person who actually owns it still gets to make decisions about it and benefit from it. In some cases, it's important to know who the real owner is, especially to prevent crimes like money laundering or terrorism financing.

A more thorough explanation:

Beneficial ownership refers to a situation where a person has the right to vote and make decisions about a security, even though the security is held in the name of someone else, such as a broker. This arrangement is often used for safety or convenience reasons.

In international commercial law, beneficial ownership refers to the natural person who is behind a legal entity or arrangement. This information is important for preserving the integrity of tax systems and for fighting financial crimes such as corruption, money laundering, and terrorist financing.

One example of beneficial ownership is when a person invests in a stock through a broker. The stock is held in the broker's name, but the investor has the right to vote on company decisions and receive any benefits from the stock, such as dividends.

Another example is when a company is owned by a trust. The trust is the legal owner of the company, but the beneficiaries of the trust have the right to make decisions about the company and receive any profits.

These examples illustrate how beneficial ownership allows a person to have control and benefit from a security or company, even if they are not the legal owner.

beneficial owner | beneficial use

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
LSD+ is ad-free, with DMs, discounts, case briefs & more.