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Simple English definitions for legal terms

porcupine provision

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A quick definition of porcupine provision:

Porcupine provision: A rule that a company makes to stop someone from taking over the company without the permission of the board of directors. It's like a shield that protects the company from being taken over by someone who wants to control it.

A more thorough explanation:

A porcupine provision is a clause in a corporation's charter or bylaws that is intended to prevent a takeover without the approval of the board of directors. This provision is designed to make the company less attractive to potential acquirers and to give the board more control over the company's future.

One example of a porcupine provision is a requirement that a certain percentage of shareholders must approve any takeover bid. For example, a company might require that at least 75% of shareholders must approve a takeover before it can go through. This makes it much more difficult for a potential acquirer to gain control of the company.

Another example of a porcupine provision is a requirement that the board of directors must approve any sale of the company's assets. This prevents a potential acquirer from buying up the company's assets piecemeal, which would make it easier to gain control of the company.

These examples illustrate how porcupine provisions can be used to protect a company from hostile takeovers. By making it more difficult for potential acquirers to gain control of the company, these provisions give the board of directors more control over the company's future.

popular sovereignty | pork-barrel legislation

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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