Glossary Archive

Joint Venture A joint venture is a business arrangement in which two or more parties collaborate to undertake a specific project or business activity, sharing both the risks and rewards associated with it. Each participant contributes resources, which can include capital, expertise, technology, or other assets, and retains a degree of control over the venture...

Net Operating Income (NOI) Net Operating Income (NOI) is a key financial metric used primarily in real estate investment analysis to assess the profitability of an income-generating property. It represents the total revenue generated from the property minus the operating expenses incurred to maintain that property, excluding financing costs and taxes. To calculate NOI, the...

Net-Profit Participation Agreement A Net-Profit Participation Agreement is a contractual arrangement in which one party agrees to share a portion of its profits with another party, typically in exchange for services, investments, or as a means of incentivizing performance. This type of agreement is commonly used in business partnerships, joint ventures, and investment agreements. In...

Neutral Arbitrator Selection Neutral arbitrator selection is the process of choosing an impartial third party to resolve a dispute through arbitration, a form of alternative dispute resolution (ADR) that avoids court litigation. The selected arbitrator is responsible for hearing the evidence, making legal determinations, and issuing a binding decision based on the merits of the...

Neutral Assessment in ADR Neutral Assessment in Alternative Dispute Resolution (ADR) is a process where a neutral third party evaluates the merits of a dispute and provides an opinion on the likely outcome if the case were to be litigated in court. This assessment is not binding but serves as a tool for the parties...

Neutral Case Evaluation (NCE) Neutral Case Evaluation (NCE) is a form of alternative dispute resolution (ADR) where an impartial third party, known as the evaluator, assesses the strengths and weaknesses of each party's case in a legal dispute. This process typically occurs before trial and aims to provide the parties with a realistic perspective on...

Estate Planning Estate Planning is the process of arranging for the management and disposal of an individual's estate during their life and after death. It involves the strategic formulation of a plan that dictates how a person's assets, such as property, investments, and personal belongings, will be distributed to beneficiaries, as well as the management...

Neutral Third-Party Facilitation Neutral Third-Party Facilitation refers to a process in which an impartial individual or organization assists parties in conflict to communicate more effectively and reach a resolution. This facilitator does not take sides, nor do they have a vested interest in the outcome. Their primary role is to create a safe and structured...

A No-Contest Clause is a provision included in a will or trust that is designed to discourage beneficiaries from contesting the document. It establishes that if a beneficiary challenges the validity of the will or trust in court, they may forfeit their right to inherit any assets under that document. The primary purpose of a...

No Contest Clause A No Contest Clause is a provision often included in a will or trust that discourages beneficiaries from contesting the document. The clause typically states that if a beneficiary challenges the validity of the will or trust, they will forfeit their inheritance or gift. This clause is designed to promote the testator's...