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p-Glossary

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An acquisition involving a company buying most, if not all, of another company. Acquisitions are often part of a company’s growth strategy when it is more beneficial to take over an existing firm’s operations and niche compared with expanding on its own. Acquisitions are often paid for in cash, in company stock, or a combination of both.

Acquisitions can be either friendly or hostile. Friendly acquisitions occur when the target firm agrees to be acquired, whereas hostile acquisitions do not have the same agreement from the target firm and the acquiring firm needs to purchase a majority of the shares of the target company to gain control. In either case, the acquiring company often offers a premium on the market price of the target company’s shares to entice shareholders to sell. A new company is not always formed after an acquisition.

Agribusiness encompasses all operations involved in the manufacture and distribution of farm supplies (seed, agrichemicals, farm machinery, etc.), production on the farm (land cultivation, crop/animal husbandry, etc.), and postharvest management (storage, processing, packaging, transportation, and distribution of farm commodities and products made from them). Agribusiness one subsector of agroindustry, although the terms are often used interchangeably.

Agroindustry involves processing materials from primary agricultural/animal production, forestry, and fishery (the processing can include transformation and preservation through physical or chemical alterations, storage, packing, and distribution). Agroindustry includes agribusiness and agroprocessing or agri-based industry. However, it does not include operations and services dealing with the manufacturing and distribution of farm supplies or the provision of agricultural extension services.

Agrotourism (also known as farm tourism, agritourism, rural tourism, nature tourism, and green tourism) generally refers to visitor-oriented, value-added farm/ranch enterprises, operated singly or as part of a package of activities to provide enjoyment and education or other experiences or services to visitors to generate additional income for the farm/ranch. In agrotourism, visitors have the opportunity to become acquainted with agricultural areas, farming activities, local farm-based products, traditional cuisine, and the daily life of the people, as well as cultural elements and geographic features of the area. Agrotourism can contribute to the sustainable environmental, economic, and social development of rural areas. For example, green tourism in Japan emphasizes farming and rural cultural experiences and their educational effects.

Alternative dispute resolution (ADR) is informal litigation channels for dispute or complaint resolution. They consist of a process entailing arbitration, conciliation, mediation, political lobbying, and reconciliation. As prescribed by the UN’s New York Convention in 1958, ADR is a more efficient practice of dispute resolution excluding the court system, while promoting a free flow of social exchange in all areas of vocation not limited by legal, national, or geopolitical frameworks.

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