Think Tank Law and Legal Definition

A think tank is an organization, institute, group or corporation which is organized for research or for engaging in advocacy in areas such as social policy, political strategy, science or technology, or military advice. The term was first applied in 1940’s to the Rand Corporation, an organization largely funded by the Ford Corporation. Many of the think tanks are non profit organizations. In US they are provided tax exemption. The term is now loosely applied to any group formed to solve a problem or studying a particular problem.