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profit sharing

   Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
profit sharing,
n a mechanism for funding a retirement plan for employees or members of a professional association. Members are eligible for a percentage of the net income based on predetermined formulae. Such plans, properly executed, are legal and ethical and are to be differentiated from fee splitting, which is illegal and unethical, in which a referring professional shares in the fee-for-service income of another professional.

profit
the amount by which income exceeds expenditure.

profit sharing
profit sharing between a professional and a lay person is illegal in most countries because it is considered to be improper for a nonveterinarian to have any authority over the quality and style of the work of a professional person.


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4 million to the Baldor Employee Profit Sharing & Savings Plan.
Byline: by Property Editor MICHELLE O'KEEFE COLM Lundy, who claims to be a director of property developers, Newlyn, is claiming E8m from the firm he says is unpaid profit sharing.
Couch said profit sharing at Hypertherm is part of the company's long-standing philosophy of shared rewards.
 
 
 
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