commercial bribery
Noun: - Bribery of a purchasing agent: The act of offering, giving, receiving, or soliciting something of value to influence the actions of a person in a commercial or business transaction, typically a purchasing agent or other fiduciary, to secure an unfair advantage or to induce the agent to enter into a transaction.
This term is used in legal, business, and ethical contexts to describe a specific form of corruption within commercial dealings. It refers to a corrupt agreement between two parties, not a public official. - The company was investigated for commercial bribery after it was discovered they gave lavish gifts to a supplier's procurement manager. - Laws against commercial bribery are designed to ensure fair competition in the marketplace.
- As a legal concept: "Commercial bribery" is often distinguished from political bribery, as it involves private sector transactions. It can be a criminal offense or a civil violation, depending on jurisdiction.
- The contract was voided because it was obtained through commercial bribery.
- Bribe (n/v): The thing offered or the act of offering it to corrupt someone's conduct.
- Kickback (n): A form of bribe, typically a return of a portion of the money received in a transaction, often secret and illegal.
- Payola (n): A secret or private payment (like a bribe) for the promotion of a product, service, etc., often associated with the music industry.
- Corrupt inducement
- Undue influence (in a commercial context)
- Secret commission
- To engage in commercial bribery: To participate in the act.
- The executive was fired for engaging in commercial bribery.
- A case of commercial bribery: Describing a specific instance.
- The scandal was a clear case of commercial bribery.
This term does not commonly form phrasal verbs or idioms. Its meaning is specific to the sphere of business ethics and law.
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bribery of a purchasing agent in order to induce the agent to enter into a transaction