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Simple English definitions for legal terms
blank stock
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A quick definition of blank stock:
Blank stock is a type of stock that has voting powers and rights set by the company's board of directors after it has been sold. It is one of many types of stocks, which are shares of ownership in a company. Other types of stocks include common stock, preferred stock, and convertible stock. Blank stock is important because it allows the company to adjust the voting powers and rights of its shareholders as needed.A more thorough explanation:
Blank stock is a type of stock that has voting powers and rights set by the issuer's board of directors after the stock has been sold. This means that the board of directors can decide on the voting rights and other privileges of the stock after it has been sold to investors.
For example, if a company sells blank stock to investors, the board of directors can later decide to give the stockholders voting rights or other privileges based on the company's needs or goals.
This type of stock is different from other types of stock, such as common stock or preferred stock, which have predetermined voting rights and privileges.