Simple English definitions for legal terms
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Term: CONGLOMERATE
Definition: A conglomerate is a big company that owns many different types of businesses. These businesses may not be related to each other. For example, a conglomerate might own a restaurant chain, a car company, and a clothing store.
Definition: A conglomerate is a type of corporation that owns many different businesses in various industries that are not related to each other.
For example, a conglomerate might own a chain of restaurants, a car manufacturing company, and a media company. These businesses are not related to each other, but they are all owned by the same conglomerate.
This type of corporation is different from a company that focuses on one specific industry or product. A conglomerate can be made up of many different types of businesses, which can make it more diverse and potentially more profitable.