going concern

going concern
going con·cern n: a business that is in operation

Merriam-Webster’s Dictionary of Law. . 1996.

going concern
The Transfer of Undertakings (Protection of Employment) Regulations 1981 ("TUPE") apply where an undertaking (business) is sold as a going concern (as opposed to a sale of assets or a sale of shares) or where a unit within a business is contracted-out (outsourced) or where the contractor is changed. In the event of such a transfer, the employment rights (except pensions) of those employed by the seller immediately prior to the transfer are preserved and become the responsibility of the buyer. Dismissal in connection with the transfer gives the employee a right to claim unfair/wrongful dismissal against the transferee. What a "going concern" is, is a matter of fact but transfer of goodwill is usually the key criterion. Prior to the transfer, there are obligations to consult with the appropriate representatives of the employees who may be affected.

Easyform Glossary of Law Terms. — UK law terms.


going concern
n.
A company or enterprise currently conducting its ordinary business.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


going concern
USA
A term often used to refer to a business that is operating as an ongoing enterprise. A company's market value may be measured by its going concern value, which is its value as an ongoing entity as opposed to its liquidated value.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


going concern
n. A business that is being actively conducted.

Webster's New World Law Dictionary. . 2000.

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