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
A company or enterprise currently conducting its ordinary business.

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

going concern
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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Look at other dictionaries:

  • going concern — noun A business currently operating (esp making a profit) and expected to continue to do so • • • Main Entry: ↑going * * * going concern UK US noun [countable] [singular going concern plural …   Useful english dictionary

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  • Going concern — A going concern is a business that functions without the intention or threat of liquidation for the foreseeable future, usually regarded as at least within 12 months.Use in AccountingIn accounting, going concern refers to a company s ability to… …   Wikipedia

  • going concern — One of the fundamental accounting concepts. It is assumed that a company will continue in operational existence for the foreseeable future. Dresdner Kleinwort Wasserstein financial glossary * * * going concern going concern ➔ concern * * *    An… …   Financial and business terms

  • Going Concern — A term for a company that has the resources needed in order to continue to operate indefinitely. If a company is not a going concern, it means the company has gone bankrupt. Also known as Going Concern Value . In other words, this refers to a… …   Investment dictionary

  • going concern — UK / US noun [countable] Word forms going concern : singular going concern plural going concerns a business that seems likely to continue to make a profit …   English dictionary

  • going concern — /ˌgəυɪŋ kən sɜ:n/ noun a company that is actively trading (and making a profit) ♦ sold as a going concern sold as an actively trading company ♦ to sell a business as a going concern to sell a business as an actively trading company …   Dictionary of banking and finance

  • going concern — noun A working business; a flourishing or profitable enterprise. If the bank does not act swiftly to push the CDS price back down, the regulator seizes the assets, wipes out shareholders and sacks the management. The bank is recapitalised as a… …   Wiktionary

  • going concern — See a going concern …   English idioms

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