Connecticut General Statutes 32-500 – Definitions
As used in sections 32-500 to 32-512, inclusive:
Terms Used In Connecticut General Statutes 32-500
- another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(1) “Corporation” means Connecticut Innovations, Incorporated;
(2) “Commissioner” means the Commissioner of Economic and Community Development;
(3) “Department” means Department of Economic and Community Development;
(4) “Export” means the sale of goods or services by a business in Connecticut to a person, firm or corporation in another country;
(5) “Financial assistance” means grants, extensions of credit, loans or loan guarantees or combinations thereof;
(6) “Participation fee” means a fee paid to the state to compensate for expenses incurred by the state in organizing a trade show;
(7) “Recruitment” means the recruitment of foreign investment to the state;
(8) “Small and medium-sized company” means a business having not more than two hundred fifty employees;
(9) “State” means the state of Connecticut;
(10) “Success fee” means a fee paid to the department by a company which receives a contract to export goods or services as a result of assistance from the department;
(11) “Trade consortium” means an industry cluster grouping of two or more companies, with or without university partners, working as a unified organization for the purpose of promoting and managing the exports of participating companies;
(12) “Trade development company” means a business that assists small and medium-sized companies in entering foreign markets; and
(13) “Trade representative” means a commercial trade representative in important world markets.