Transacting Business Law and Legal Definition

The term “transacting business” can be defined “as purposeful activity--'some act by which the defendant purposefully avails itself of the privilege of conducting activities within the Forum State, thus invoking the benefits and protections of its laws.'" NewMarkets Partners LLC v. Sal. Oppenheim Jr. & CIE, 638 F. Supp. 2d 394, 402 (S.D.N.Y. 2009)