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Simple English definitions for legal terms
derivative acquisition
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A quick definition of derivative acquisition:
A derivative acquisition is when someone obtains something through a sale or gift from someone else. This can include things like buying a company or receiving a gift from a friend. It is different from a new acquisition, which is something that has never belonged to anyone before, and an original acquisition, which is something that someone has acquired on their own without any help from others.
A more thorough explanation:
Definition: Derivative acquisition is the process of obtaining ownership or control over something from another person or entity through sale or gift.
For example, if Company A buys a subsidiary from Company B, that is a derivative acquisition. Company A did not create the subsidiary themselves, but instead acquired it from Company B.
Another example of derivative acquisition is when an individual receives a gift of property from someone else. The individual did not originally own the property, but instead acquired it through the gift.
Overall, derivative acquisition involves obtaining ownership or control over something that was previously owned or controlled by someone else.