What does carveout mean?

carveout meaning in Law Dictionary

n attempt, usually unsuccessful underneath the Federal provider Labor-Management Relations Statute because it fosters unit fragmentation, to carve away (or sever)--usually along work-related outlines (firefighters, nurses)--a subgroup of employees in an existing negotiating device to establish a separate, more homogenous unit with an unusual union as unique agent.

carveout meaning in Business Dictionary

1. General: Exception to a rule, severance from a product, or a synchronous or additional arrangement considering a primary arrangement. 2. Collective negotiating: Attempt by a subgroup of workers (already represented by one union) to establish a distinct identity as another group and be represented by another union. 3. Finance: (1) Partial spinoff effected by a moms and dad company by attempting to sell 20 per cent or less of the shareholding. This sale provides brand new capital (and new shareholders) toward mother or father that might sell-off the remaining shares (called stub) at a value filled because of the carveout. (2) Creation of a new subsidiary that runs in a new market (such as for example online product sales on the web) by using the parent firm's core talents such as for instance brand recognition and circulation system. 4. Insurance: provider not covered under a main plan but purchased individually to supplement the standard policy. Chiropractic treatment, including, just isn't covered under standard medical health insurance policies but a cover might purchased if you are paying extra advanced.