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Simple English definitions for legal terms
long-term security
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A quick definition of long-term security:
Long-term security means having protection or safety for a long time. It can refer to something that is given as a guarantee to make sure that a debt is paid back, or it can mean feeling safe from danger or harm for a long period of time. In finance, a security is a type of investment that represents ownership or a creditor relationship with a company or government. It can be a stock, bond, or other type of financial instrument. The value of a security depends on the financial condition or future prospects of the entity that issued it, and how much other people are willing to pay for it based on their evaluation of those prospects.
A more thorough explanation:
Long-term security refers to the assurance of safety or protection over a prolonged period of time. It can also refer to collateral given to guarantee the fulfillment of an obligation.
For example, when a person takes out a loan from a bank, they may need to provide long-term security in the form of collateral, such as a house or car, to ensure that the bank will be repaid if the borrower cannot make their payments.
Long-term security can also refer to investments in stocks, bonds, or other financial instruments that provide a sense of security over a longer period of time. These investments may offer a steady stream of income or the potential for long-term growth.
Overall, long-term security is important for individuals and businesses to ensure stability and protection over an extended period of time.