Development-Stage Company Law and Legal Definition
Development-stage company refers to a company that is devoting a majority of its attention on the establishment of a new business. In a development-stage company, either the principal operations may have not yet begun or have begun without producing significant revenue.
A development-stage company has limited sales. A company having no specific business plan or purpose or has indicated in its business plan that it is to engage in a merger or acquisition with an unidentified company or companies is known as a development-stage company. It is also known as a blank check company. [Peck v. Pac. CMA, Inc., 2007 U.S. Dist. LEXIS 40435, 1-2 (D. Colo. June 1, 2007)].
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