Dictionary of basic legal terms

Dictionary of basic legal terms

This article will provide the most common legal terms.

Jurisdictions. Under this term, certain territories or countries are accepted in which a particular business object is registered.

Royalty. This is the money that was obtained by transferring the rights to use intellectual property (for example, payment for the publication of a book, the use of proprietary technology, etc.). Also, royalties include revenues that are transferred to the owner of mineral deposits (gas, oil, etc.) during their development by third-party companies, to whom he transferred the right to exploit these deposits.

Residents. These are individuals or legal entities related to the subjects to which taxation applies in a particular country.

Trusts. This is an extremely effective set of tools with which it is possible to carry out tax planning, the transfer of assets in the inheritance and their protection from misappropriation by third parties.

Beneficiaries. This term refers to the true owners of the company who receive material benefits from their commercial activities.

International business companies. These are objects of entrepreneurial activity that are exempt from taxation in most of the countries and territories belonging to offshore zones.