Simple English definitions for legal terms
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Special-Purpose Vehicle: A special-purpose vehicle is a type of entity that is created for a specific purpose, such as to hold assets or manage a project. It is often used in finance and investment to help investors achieve their goals. Think of it like a tool that is designed for a specific job, like a hammer for building a house.
SPECIAL-PURPOSE VEHICLE
A special-purpose vehicle is a type of company that is created for a specific purpose, such as to hold assets or manage a project. It is also known as a special-purpose entity.
These examples illustrate how a special-purpose vehicle is created for a specific purpose and is separate from the companies or individuals involved in the project or investment. It allows for better management and organization of the assets or funds involved.