Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

GOLDEN HANDSHAKE

A severance or an incentive to leave the firm with no fuss or controversy. Generous bonus offered to a director, employee, or partner at termination. Also refer to golden boot.

GOLDEN HELLO

Incentive to another firm’s employee to join the offering firm.

GOLDEN LIFE JACKET

A part of the compensation package offered, such as large bonuses or company stock options, seeks to keep executives in their current positions when their company is acquired.

GOLDEN PARACHUTE

To compensate for loss of office after a takeover or merger, a huge bonus and/or a lucrative contract or a stockholding (shareholding) in the new setup is offered to a director or

GOLDEN RULE

Unless doing so would be patently absurd, courts should hold to commonly understood meanings of the words of a document .

GOLDEN SECTION

A line divided into two unequal parts that have ratios stated as: the ratio of the smaller part (‘a’) to the larger part (‘b’) is the same ration as the larger part

GOLDMAN 360

Developed by Goldman Sachs. A system used by investment managers and advisors to research, order buys and sells, and calculate outcomes. A computerized investment portfolio management system.

GOLDMAN SACHS

US-based investment bank. Deals in a wide ranges of financial services. Investment banking, prime brokerage, commercial banking, and asset management are its main focus areas . Goldman Sachs was first bank to

GONDOLA CAR

Heavy, bulk commodities are shipped in this type of container. Aggregates, structural steel, scrap metal, steel beams, or poles are examples of such bulk. They are sized to the customer’s loading requirements.

GONE CONCERN

Entity defunct or soon to be defunct. Goodwill value is gone. Worth of any tangible assets is now tied to auction or liquidation. Debt is now due, full and immediate. Also refer

GOOD CONSIDERATION

A reason for doing something based on natural affection, generosity, love, or moral duty. This reason is insufficient to judge a commercial contract or promise enforceable as it lacks valid, valuable, and

GOOD FAITH

Sometimes legally binding due diligence around the effort made, information given, or transaction done, honestly, objectively, with no deliberate intent to defraud the other party. Yet, this does not cover a sin

GOOD FAITH EFFORTS

Does not necessarily include due diligence. Focused efforts to produce desired or required results by deliberate action.

GOOD STANDING

Entity status in terms of being up-to-date for anything due, like dues, reports, other criteria, as a member of an organization.

GOODHART’S LAW

Professor Charles Goodhart introduced this theory. Originally applied to the stability of economic spending, it now points out the problem of assigning value to a specific variable to be used as an

GOODNESS OF FIT

Warm fuzzy; level of confidence. Degree of comfort that a sample survey’s or test result are reliable for making dependable projections. Described formally as the degree of linear correlation of variables, it

GOODS RECEIVED NOTE

Record at the point of receipt of goods received. Often compared to a purchase order before issuing payment, this record confirms receipt of all goods.

GOODWILL

The primary INTANGIBLE ASSET of a company, generally comprised of reputation, contact networks, intellectual property, and branding. Although the assets have value, they cannot be physically inspected and are extremely ILLIQUID. Goodwill

GOODWILL TO ASSETS RATIO

Measuring goodwill value over total asset value. Quantifies an intangible for monitoring. As in the saying of too much of a good thing can be bad, too much goodwill can financially impair

GOOGLE ADWORDS

Google, Inc. advertising program. A popular method with low start-up costs and high potential profits for the site owners. A company displays its ads on a Google website. Uses the pay-per-click basis

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