punitive damages

punitive damages definition - business

punitive damages

Court-awarded monetary damages that exceed the actual losses of the plaintiff. Punitive damages are designed to punish the defendant and serve as a deterrent for others who might commit the same act.

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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