To authorize means to grant authority; to empower. It may also mean to formally or officially approve.
[Last updated in June of 2021 by the Wex Definitions Team]
corporations
balance sheet
A balance sheet is a financial statement that consists of a three-part summary of a company's assets, liabilities, and ownership equity at a particular instance in time. It is intended to show the financial condition of a company at that time...
bankruptcy
Overview:
Bankruptcy law provides for the reduction or elimination of certain debts, and can provide a timeline for the repayment of nondischargeable debts over time. It also permits individuals and organizations to repay secured debt....
blanket security lien
A blanket security lien is a type of security interest over the assets of an entire entity rather than an individual asset. While blanket liens can technically be placed on the assets of an individual person, they are more commonly seen on...
board of directors
In the context of a corporation a board of directors is a group of people, selected by the shareholders, who make the major decisions for the company. The exact responsibilities of the board are governed by the company’s articles of...
bureaucracy
Bureaucracy is a term composed of bureau (meaning "writing desk" in old French) and -cracy (meaning "power" in Latin). A bureaucracy is a form of work organization. The historical meaning of the term refers to a body of non-elected government...
business
A business involves a natural person or entity performing an activity or trade with the intent of making a profit. The activity or trade may be commercial, industrial, professional, or otherwise. A business commonly involves providing goods...
buyback
A buyback refers to when a corporation repurchases its own outstanding stock. By doing so, the number of overall shares in the market drops and the value of each individual share tends to increase. Issuing a buyback offer is not binding on...
bylaw
Bylaws refer to the regulations and rules established by a company or other organization for internal management. Bylaws are most often used in companies to determine the rights and obligations of employees and organizations in a corporate...
bylaws
Bylaws refer to the regulations and rules established by a company or other organization for internal management. Bylaws are most often used in companies to determine the rights and obligations of employees and organizations in a corporate...