preemptive right

preemptive right

noun
a privilege given to an existing shareholder to buy a portion of a new stock issue at the offering price on a pro-rata per-share basis.

Origin:
1850–55
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2012.
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Preemptive right is always a great word to know.
So is bezoar. Does it mean:
an arrangement of five objects, as trees, in a square or rectangle, one at each corner and one in the middle.
a calculus or concretion found in the stomach or intestines of certain animals, esp. ruminants, formerly reputed to be an effective remedy for poison.
WordNet
preemptive right

noun
the right granting to shareholders the first opportunity to buy a new issue of stock; provides protection against dilution of the shareholder's ownership interest 
WordNet® 3.0, © 2006 by Princeton University.
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