drag-along right
C2CEFR level
96/100Rarity: very rare
TechnicalRegister
Law phrase
A right allowing majority shareholders to compel the minority to join in a sale of the company on the same terms.
The drag-along right ensured a clean sale of one hundred per cent of the shares.
Business noun
A clause allowing majority shareholders to compel minority holders to join in the sale of the company.
The drag-along right meant a handful of early employees could not block the acquisition.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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