loophole

loophole definition - business

loophole

A flaw or ambiguity in a law or contract that allows someone to legally get around the intent. For example, politicians and political parties are often accused of taking advantage of loopholes in campaign finance laws. Similarly, businesses and individuals are constantly searching for tax loopholes.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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