priority

priority definition - business

priority

A relative position or claim to something. In bankruptcy, for example, the claim of a secured bondholder has priority over the claim of an unsecured bondholder.

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.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.