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business-purpose doctrine.Tax. The principle that a transaction must serve a bona fide business purpose (i.e., not just for tax avoidance) to qualify for beneficial tax treatment. [Cases: Internal Revenue  3071, 3315, 3396. C.J.S. Internal Revenue §§ 13–14, 151.][Blacks Law 8th]

business plan.A written proposal explaining a new business or business idea and usu. covering financial, marketing, and operational plans.[Blacks Law 8th]

Business Methods Patent Initiative.A U.S. Patent and Trademark Office program that added a second level to business-method-patent reviews for the purpose of reducing the number of business-method patents issued. • The PTO created the initiative in response to complaints that examiners improperly approved many business-method patents. After an examiner approves the application and before a…

business-method patent.See PATENT(3).[Blacks Law 8th]

business-method exception.Intellectual property. The traditional doctrine that business methods are not protected by intellectual-property laws. • Early caselaw established that “pure methods of doing business” were unpatentable. But in 1998, the Federal Circuit held in State St. Bank & Trust Co. v. Signature Fin. Group (149 F.3d 1368) that business methods are not per se…

business method.Patents. A way or an aspect of a way in which a commercial enterprise is operated.[Blacks Law 8th]

business meeting.See MEETING. [Blacks Law 8th]

business loss.See ordinary loss under LOSS.[Blacks Law 8th]

business-judgment rule.Corporations. The presumption that in making business decisions not involving direct self-interest or self-dealing, corporate directors act on an informed basis, in good faith, and in the honest belief that their actions are in the corporation’s best interest. • The rule shields directors and officers from liability for unprofitable or harmful corporate transactions if…

business invitee.1.INVITEE. 2.BUSINESS VISITOR(1). [Blacks Law 8th]