Legal Definitions - registration

Registration generally refers to the official act of recording or enrolling something or someone in a formal record or list maintained by a government agency or other authorized body. It can also refer to the comprehensive legal process required before a company can offer new securities for sale to the public.

Here are the primary contexts in which "registration" is used in a legal sense:

• 1. The Act of Recording or Enrolling

  This meaning refers to the formal process of adding information to an official record or list, often to establish legal rights, duties, or status.

  • Example 1: Property Ownership
    When a person purchases a new home, they must register the deed with the county recorder's office. This act officially records their ownership, making it a public record and legally binding, protecting their property rights.

  • Example 2: Professional Licensing
    A newly graduated architect must register their professional license with the state's architectural board before they can legally practice. This formal enrollment ensures their qualifications are officially recognized and allows them to offer their services to the public.

  • Example 3: Vehicle Ownership
    After buying a used car, the new owner is required to register the vehicle with the Department of Motor Vehicles. This process records the change of ownership, allows for the issuance of new license plates, and ensures the vehicle is legally permitted on public roads.

  Within this general category, there are specific types of registration:

  • Criminal Registration
    This is a legal requirement in some jurisdictions for individuals convicted of certain crimes (such as sex offenses or sometimes other serious felonies) to report their presence and personal information, like their address, to local law enforcement authorities when they move into a community or change their residence.

    • Example: A person recently released from incarceration after being convicted of a serious felony might be mandated by state law to register their current address and other identifying details with the local police department within a few days of moving into a new town. This allows law enforcement to monitor individuals with specific criminal histories for public safety.

  • Special Registration
    This refers to a process for registering to vote that is specifically for a particular election or ballot measure, rather than for all future elections.

    • Example: A city might hold a special election solely to decide on a new public park bond. Residents who are not already registered for general elections might be allowed to complete a "special registration" just for this specific bond election, enabling them to cast a ballot on that single issue without necessarily registering for all future federal, state, and local elections.

• 2. Securities Registration

  In the context of financial markets, registration refers to the comprehensive legal process required by the Securities and Exchange Commission (SEC) before a company can offer new securities (like stocks or bonds) for sale to the public. The Securities and Exchange Commission (SEC) is an independent agency of the U.S. federal government responsible for protecting investors, maintaining fair and orderly functioning of securities markets, and facilitating capital formation.

  • Example 1: Initial Public Offering (IPO)
    A rapidly growing software company decides to become publicly traded by offering its shares to investors for the first time. Before it can sell these shares, it must undergo a rigorous registration process with the SEC, which involves filing detailed financial statements, business plans, and risk disclosures. This ensures potential investors have access to critical information to make informed decisions.

  • Example 2: New Bond Issuance
    An established utility company needs to raise capital to fund a major infrastructure project. It plans to issue new corporate bonds to investors. Even though the company's stock is already publicly traded, the issuance of these *new* bonds requires a new registration process with the SEC to ensure all relevant disclosures about the bond offering are made available to the public.

  A specific type of securities registration is:

  • Shelf Registration
    This is a specific type of registration with the SEC that allows a company to register a large amount of securities that it intends to sell over an extended period, rather than all at once. This provides flexibility, allowing the company to issue securities at opportune times without needing to go through a full, new registration process each time.

    • Example: A large pharmaceutical corporation anticipates needing to raise capital multiple times over the next three years for various research and development projects. Instead of filing separate registration statements for each stock or bond issuance, it might use shelf registration to register a total amount of securities it plans to sell. This allows the company to quickly issue portions of these securities when market conditions are favorable, without the delay and expense of a new full registration each time.