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<strong>Reauthorization</strong> – The legislative process, generally carried out every five years for the Higher Education Act, whereby Congress reviews and either renews, terminates, or amends existing programs.
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statutory minimum wage rate (J3)<br />The minimum wage set in the UK by a WAGES coUNCIL for the group of workers covered by that council. Trade union and employer representatives sit with independent members of a council to make the recommendation of a new minimum wage rate to the Secretary of State for Employment. The reduction in the number of such councils in the 1980s reduced the number of these wage rates. The new UK government introduced a national minimum wage in 1998. See also: minimum wage; wages council
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grant-back clause (00)<br />The right in a contract granting the owner of a patent the right to all improvements and modifications in the technology discovered by the licensee. In the European Union the licensee grants back the right to the licensor of the use of these modifications in another place. In some countries the licensor owns the modifications as intellectual property.
feudalism (N4)<br />The hierarchical medieval system of power and production in European countries with the monarch at the top and serfs tied to the land at the bottom. More recently the term has been loosely used to describe private agricultural estates in Latin America and Japanese industrial companies, with varying degrees of justification.<br /> <br /><em>Reference</em><br />Strayer, JR. (1965) Feudalism, New York: Van Nostrand Reinhold.
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