de facto


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De facto

Existing in actual fact although not by official recognition.

De Facto

Existing in fact, but not by legal standard. In business, one occasionally makes reference to "de facto" monopolies in situations where alternatives to a certain brand may exist, but the brand has such a large market share that the alternatives may as well not exist. Likewise, some analysts of the 2008 recession have discussed the "de facto" nationalization of the banking industry, in which some governments, notably the British, bought some banks outright and implicitly guaranteed the existence of all other banks.

de facto

In fact, in actuality, as things are really done. The phrase is used to express a state of affairs or condition that might not be technically legal, but which has the same effect as the legal condition. Here are two examples:
• When an apartment complex allowed the power to be disconnected for nonpayment and failed to secure a reconnection, it amounted to a de facto eviction of all the tenants (also called a constructive eviction).
• The IRS has ruled that a long-term lease of property with the right to purchase for $1 at the
     end of the term is not a true lease, but a de facto installment sale.

References in periodicals archive ?
Thus, it would not be wrong to argue that de facto states want to survive and therefore enter into relations with members of the international system in the hopes of achieving widespread recognition.
However, some de facto states are regarded as being the legitimate authority over a certain territory and gain extensive support and recognition by external states, while others remain isolated.
It what appeared to be an "achievement" for Aoun, the idea of Mikati adopting the choice of a de facto government has been dropped, the paper said.
As part of new contacts to resolve the row over the Interior Ministry and avoid the option of a de facto Cabinet, Mikati met Thursday night with Progressive Socialist Party (PSP) leader MP Walid Jumblat.
corporation is determined to be de facto liquidated (assume in this discussion that a wholly owned U.
If the de facto liquidated corporation is solvent, it is subject to tax on any gain to the extent the fair market value of its property exceeds its tax basis (Secs.
Quorum provides the Quorum Energy Software Suite, a set of business applications for the energy industry that includes TIPS, the de facto industry standard solution for gas processors.
With more than 19 years experience in developing, deploying, and managing network security systems for the most security-conscious government, financial institutions and large enterprise organizations around the world, SafeNet's proven technology has emerged as the de facto industry standard for VPNs.
SSH's award-winning remote access software, SSH Secure Shell, the de facto standard for secure remote access and data transfer, and SSH Sentinel(TM), a feature-rich remote access VPN "smart" client are ideal solutions for securing wireline and wireless networks.
Since SoftRemote has become the de facto standard for remote access in the industry, its core technology has been used to build other variations of SoftRemote including SoftRemotePDA(TM), SoftRemoteLT(TM), and HighAssurance(TM) Remote.
NextHop's flagship product, GateD(TM), the de facto standard, is the most widely used vendor-neutral routing software in the world.
Lane15 Software is the leading provider of management software for fabric computing, including the industry de facto standard fabric manager.