Business Law Glossary: T

Tender: To present to another person an unconditional offer to enter into a contract or to present payment to another.

Trade: A business or occupation for profit, particularly in retail or wholesale sales or requiring special mechanical skill. A trade is also an exchange one thing for another, which includes money for goods, goods for goods and favors for goods or money.

Trade Secret: A process, method, plan, formula or other information unique to a manufacturer, which gives it an advantage over competitors. Therefore the trade secret has value and may be protected by a court-ordered injunction against use or revelation of trade secret.

Transfer Agent: A person or company retained by a corporation to process transfers and registration of shares of stock (stock certificates). One difficulty is that the stock certificates do not always include the name and address of the current transfer agent

Telecommuting: Working from home or another location remote from the office, using technology such as telephones and computers.

Third Party Litigation: When a lawsuit is brought against a defendant and that defendant wants to add another party to the suit, the original defendant may file a "third party complaint" which results in a third party litigation or lawsuit.

TITLE VII: Part of the federal Civil Rights Act of 1964 that prohibits discrimination in employment on the basis of age, color, national origin, race, religion, or sex.

Tort: A civil wrong; a wrongful injury to a person's property. There are three types of torts: intentional, negligence and strict liability.

Transfer Agent: A person or company retained by a corporation to process transfers and registration of shares of stock (stock certificates). One difficulty is that the stock certificates do not always include the name and address of the current transfer agent.

Tuition Reimbursement: An employee benefit in which the employer pays all or part of the employee's tuition for coursework or training.