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Glossary

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Partnership Entity
A partnership includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business,... view full definition

Passive Investment
An activity that does not constitute a competitive business activity. view full definition

Pension Recordkeeper
It is likely that you will choose Guidant Financial Group, Inc. as your Plan Recordkeeper. We will assist you in completing the annual reporting... view full definition

Plan Eligibility
Your 401(k) Plan Document will detail minimum standards that employees must meet to participate in the plan. At the very least, employees usually must... view full definition

Plan Participant
All employees of the Corporation who are eligible to participate in the plan and elect to enroll in the plan are considered Plan Participants. view full definition

Plan Sponsor
The Corporation (i.e. employer) is the sponsor of the 401(k) Plan. view full definition

Pre-Foreclosure
Time period between notice of action to bring foreclosure and the foreclosure action. view full definition

Pre-Foreclosure Sale
The private sale of property by the property owner facing a pending foreclosure prior to the public foreclose auction. A procedure in which a lender... view full definition

Primary Beneficiary
The person who, upon the insured’s death, has the first right to receive insurance proceeds. view full definition

Principal
The amount of debt--not counting interest--left on a loan. view full definition

Principal Place of Business
Address of a business that is exclusively and regularly used for the administrative or management activities of a trade or business. view full definition

Private Placement
The sale of securities directly to individuals, entities, or institutional investors, such as banks, mutual funds, insurance companies, pension funds,... view full definition

Private Stock
Shares in a private company are owned by relatively few shareholders. view full definition

Probate
A court process to transfer a decedent’s property to his or her heirs or other beneficiaries. view full definition

Product/Trade Name Franchising
When a franchisee sells products using a franchisor's trademark, name and logo. Car dealerships, gas stations and bottling companies are commonly... view full definition

Profit Sharing Plan
A qualified retirement plan to which an employer may, in its discretion, make contributions on behalf of eligible employees. view full definition

Prohibited Transaction
An improper transaction or event involving an IRA or its assets that will result in excise (penalty) taxes or possible loss of the IRA's tax-favored... view full definition

Protected Territory
An area within which a franchisor will guarantee a franchisee that they will not place another franchise or a company-owned location. The size of this... view full definition

Public Stock
The securities of a public company which are are owned by a large number of investors. They are for sale to the general public. view full definition

Publication Requirement
Certain states have post filing requirements that include publishing the Articles of Organization in a newspaper of mass distribution or regular... view full definition


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