pre-emption
B2CEFR level
75/100Rarity: rare
TechnicalRegister
Law noun
An existing shareholder's first right to buy new shares before they go to outsiders.
Pre-emption meant the fund had to be offered its pro rata slice first.
Business noun
The right of existing shareholders to buy new shares before outsiders, so as to avoid dilution.
Exercising their pre-emption rights, the early backers maintained their percentage in the next round.
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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