business trust
- A form of trust that is established with the objective to generate profit, characterized by commercial involvement, transferable certificates of interest, continuation even after beneficiaries' death, limited liability, trustees possessing the legal title, and officers assigned with management responsibilities
- The investors decided to form a business trust to manage their new real estate venture.
- The business trust ensured the continuation of the company even after the death of the initial beneficiaries.
- Through the business trust, the trustees held the legal title of the company, and the officers handled daily management tasks.
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