Par value

An official fixed rate of exchange between two currencies, or between a currency and a basket of currencies or a specific weight of gold.

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Paramount clause

The clause in a bill of lading or charter party invoking coverage by the Hague Rules or by the particular enactment if these rules in the country with jurisdiction over the contract.

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Parent company

A parent company, sometimes called a holding company, is a corporation that has subsidiaries which are wholly or partially-owned separate businesses controlled by the parent. Although corporate law varies from one country to another there are several ways in which…

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Paris Convention

The Paris Convention for the Protection of Industrial Property, first adopted in 1833, is the major international agreement providing basic rights for protecting intellectual property rights. It covers patents, industrial designs, services marks, trade names, indications of source and unfair…

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