Michigan Laws 445.771 – Definitions
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As used in this act:
(a) “Person” means an individual, corporation, business trust, partnership, association, or any other legal entity.
Terms Used In Michigan Laws 445.771
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Trade or commerce: means the conduct of a business for profit or not for profit producing or providing goods, commodities, property, or services and includes, without limitation, advertising, franchising, solicitation, offering for sale, lease, or distribution of a service or property, tangible or intangible, real, personal or mixed, or any other article of commerce. See Michigan Laws 445.771
(b) “Relevant market” means the geographical area of actual or potential competition in a line of trade or commerce, all or any part of which is within this state.
(c) “Trade or commerce” means the conduct of a business for profit or not for profit producing or providing goods, commodities, property, or services and includes, without limitation, advertising, franchising, solicitation, offering for sale, lease, or distribution of a service or property, tangible or intangible, real, personal or mixed, or any other article of commerce.
(d) “Unit of government” means this state or an agency, instrumentality, political subdivision, or public corporation of this state, including but not limited to municipal corporations, quasi-municipal corporations, and authorities, and including their officials, employees, and agents when acting in their official capacity.