Legal Definitions - inclusive grant

An inclusive grant refers to a legal transfer or conveyance of rights, property, or authority that is broad and comprehensive, encompassing all specified elements, components, or aspects without reservation or exception within its defined scope. It means that the recipient receives everything that falls under the general description of the grant, rather than a limited or partial portion.

• Example 1: Real Estate Development Rights

  A city council might issue an inclusive grant of development rights to a construction company for a specific urban revitalization project. This grant could state that the company is authorized to "develop all parcels within the designated downtown district, including the construction of residential, commercial, and mixed-use buildings, and the necessary infrastructure such as roads, utilities, and public spaces." This means the company receives comprehensive permission to undertake all facets of the development within that area, rather than needing separate approvals for each type of building or infrastructure component.

• Example 2: Business Acquisition

  When a large corporation acquires a smaller startup, the acquisition agreement often includes an inclusive grant of all assets. For instance, the agreement might state that the acquiring company receives "all tangible and intangible assets of the startup, including but not limited to intellectual property, customer lists, existing contracts, equipment, inventory, and goodwill." This ensures that the acquiring company takes full ownership of every part of the startup's operations and value, without the need to individually list every single item or right.

• Example 3: Research Funding

  A philanthropic foundation might provide an inclusive grant to a university research department for a multi-year study on climate change. The grant terms could specify that the funds are to be used for "all expenses related to the 'Global Warming Impact Study,' including researcher salaries, equipment purchases, travel for field work, publication fees, and administrative overhead." This broad grant allows the department flexibility to cover all necessary costs associated with the entire research project, rather than being restricted to specific line items.