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Simple English definitions for legal terms
subvention
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A quick definition of subvention:
Subvention: A subvention is when someone gives money to help someone else. It's like a gift of money to help pay for something. It's usually given to help with a specific project or goal.
A more thorough explanation:
Definition: Subvention is a type of financial aid or assistance given to an organization or individual by a government or other entity. It is essentially a subsidy that helps to support the recipient's activities or goals.
Examples:
- A non-profit organization receives a subvention from the government to help fund its programs and services.
- A small business receives a subvention from a local economic development agency to help cover the costs of expanding its operations.
- A university receives a subvention from a research foundation to support a specific research project.
These examples illustrate how subventions can be used to provide financial support to a wide range of organizations and individuals. By providing funding that might not otherwise be available, subventions can help to promote important social, economic, and scientific goals.