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Simple English definitions for legal terms
finder
Read a random definition: Regents of the University of California v. Bakke (1978)
A quick definition of finder:
Finder: A person who helps bring two parties together for a business deal, like when two companies merge or when someone buys a house. They are different from brokers because they don't negotiate the deal, they just introduce the parties. A finder can also be someone who discovers a lost object.
A more thorough explanation:
Definition: A finder is an intermediary who connects two parties for a business opportunity, such as a merger between two companies, a borrower and a financial institution, or a seller and a buyer of real estate. Unlike a broker-dealer, a finder only brings the parties together to make their own contract and does not participate in the negotiations. Additionally, a finder can also refer to a person who discovers a lost or misplaced object.
Example 1: A company is looking to merge with another company, but they do not know any potential candidates. They hire a finder to locate suitable companies and introduce them to each other.
Example 2: A person loses their wallet on the street, and a passerby finds it and returns it to them. The passerby is considered a finder in this situation.
Both examples illustrate the definition of a finder as an intermediary who connects two parties or discovers a lost object. In the first example, the finder is hired to bring two companies together for a merger, while in the second example, the finder discovers a lost object and returns it to its rightful owner.