Law Dictionary

Trade agreement negotiations are the discussions between governments that produce international or interprovincial trade agreements. In Canada, international trade negotiations are conducted by the federal government, with consultation of the provinces on matters within provincial jurisdiction. Private businesses do not negotiate trade agreements themselves but may make submissions during public consultations.

Trade compliance means meeting the legal requirements that apply to importing and exporting goods, services and technology, including customs declarations, tariff classification, valuation, rules of origin, export permits and economic sanctions. In Canada these requirements are almost entirely federal and apply to any business that moves goods or technology across the border.

In business, a trade dispute usually means a commercial disagreement between businesses over the sale of goods or services, such as non payment, late or defective delivery, or breach of a supply agreement. In labour law, the term refers instead to a dispute between an employer and a union. These are separate areas governed by different rules and decision makers.

Trade finance refers to the financial instruments that help businesses pay for and secure international trade transactions, such as letters of credit, documentary collections, bank guarantees, export credit insurance and supply chain financing. These tools manage the risk that a buyer will not pay or a seller will not ship.

A trademark is a sign or combination of signs, such as a word, logo, slogan or shape, used to distinguish one business's goods or services from others. In Canada trademarks are governed by the federal Trademarks Act. Registration with CIPO is voluntary but gives exclusive Canada-wide rights for 10 year renewable terms.

The Trademarks Act is the federal statute that governs trademarks across Canada, including British Columbia. It sets out how marks are registered with the Canadian Intellectual Property Office, the grounds for refusal and opposition, the exclusive rights of registered owners, infringement and depreciation of goodwill, and the remedies courts can grant.

Trade negotiations can mean either negotiations between governments over trade agreements or, more loosely, negotiations between businesses over the terms of a commercial deal. The phrase has no special legal meaning. Business negotiations are governed by ordinary contract law, while government trade negotiations are a federal function.

Trade policy is a government's overall approach to international trade, including tariffs, import and export rules, trade agreements, trade remedies such as anti-dumping duties, and export promotion. It is a matter of public policy rather than a legal term, and in Canada it is primarily set by the federal government.

Trade practices are the ways businesses market, advertise, price and sell goods and services. Legally, the term usually refers to rules prohibiting deceptive or unfair conduct, under federal competition law for business conduct generally and under BC consumer protection law for dealings with consumers.

Trade regulations are the laws that govern how businesses trade, such as licensing requirements, product safety standards, advertising and labelling rules, competition law and import and export controls. The phrase is descriptive rather than a legal term, and the rules come from all three levels of government.

A trade secret is commercially valuable business information, such as source code, formulas, pricing or customer lists, that is kept confidential and is not generally known. BC has no trade secrets statute; protection comes from confidentiality agreements and the court action for breach of confidence, which can yield injunctions, damages or an accounting of profits.

Trade secrets protection is the set of legal and practical measures a business uses to keep valuable confidential information, such as formulas, processes, customer lists, pricing and source code, from being misused or disclosed. Protection lasts only as long as the information remains secret and the business takes reasonable steps to keep it confidential.

A Form A freehold transfer is the document used in British Columbia to transfer ownership of land. It is filed electronically in the land title office under the Land Title Act, and registration gives the buyer indefeasible title against third parties. Property transfer tax is usually payable when the transfer is registered.

A transferor is the registered owner who transfers an estate or interest in land to a transferee. In British Columbia freehold land is conveyed by a Form A Freehold Transfer registered in the land title office under the Land Title Act, and registration makes the transfer effective against third parties. 'Grantor' is still used for easements and covenants.

Transfer pricing refers to the prices charged for goods, services, intellectual property and loans between related businesses, such as a Canadian company and its foreign parent or subsidiary. Tax law requires these prices to reflect what arm's length parties would agree to, so that profits are not shifted out of Canada to reduce tax.

A trust is a relationship in which a trustee holds legal title to property for the benefit of beneficiaries or a permitted purpose. In British Columbia a trust needs certainty of intention, subject matter and beneficiaries. Business owners use family trusts and bare trusts in estate freezes, holding structures and real estate.

An unconscionable contract is one a court will set aside because one party used an inequality of bargaining power to obtain an improvident bargain. The Supreme Court of Canada restated the test in Uber Technologies Inc v Heller (2020). For consumer transactions, British Columbia's Business Practices and Consumer Protection Act separately prohibits unconscionable acts or practices.

An unenforceable contract is an agreement a court will not enforce. It may be void from the start, for example for illegality, voidable at one party's option because of fraud, duress, undue influence or unconscionability, or valid but unenforceable for lack of a required formality, such as writing for land contracts under British Columbia's Law and Equity Act.

An unfair labour practice is conduct prohibited by labour relations law that interferes with employees' rights to join a union, organize and bargain collectively. Examples include an employer threatening or disciplining workers for union activity, interfering with a union, or refusing to bargain in good faith; unions can also commit unfair labour practices.

Unfair trade practices is a general label for misleading, deceptive or unconscionable business conduct, such as false advertising, hidden fees or high pressure sales. In BC the current consumer protection law speaks of deceptive and unconscionable acts or practices rather than unfair trade practices; the repealed Trade Practice Act used the same deceptive and unconscionable language. Federal competition law separately prohibits certain marketing practices.

The Uniform Commercial Code (UCC) is a model code adopted, with variations, by US states to govern commercial transactions such as sales of goods, leases, negotiable instruments and secured transactions. It is US law and has no force in British Columbia, although BC personal property security law is modelled in part on UCC Article 9.

A unilateral contract is one in which only one party makes a promise, and the other accepts by doing the requested act rather than by promising to do it. Common examples are reward offers and bonus or incentive schemes. In Canadian tendering law, including in British Columbia, a compliant bid can form a 'Contract A' with the owner.

An unincorporated association is a group of people who join together for a common purpose without incorporating. In British Columbia it is not a separate legal person, generally cannot own property or sue in its own name, and its members or officers may be personally liable. If it carries on business for profit, it is legally a partnership.

Unjust dismissal is not a general legal concept for non union employees in BC. The usual claim is wrongful dismissal: an employer may end employment without cause but must give reasonable notice or pay in lieu, and a dismissal without proper notice and without just cause is wrongful. Unjust dismissal complaints exist only for certain federally regulated employees.

Unjust enrichment is a claim to recover a benefit one party received at another's expense where there is no legal reason for keeping it. In British Columbia the claimant must prove an enrichment, a corresponding deprivation and the absence of a juristic reason, such as a contract or gift. The usual remedy is payment of the value received.