Many people use the word solicit in their everyday lives but don’t know exactly what it means or why they use it! Whether you’re reading an English language novel or just talking with your friends about your plans for the weekend, there are probably some words that you come across that you don’t recognize immediately. The following will help you better understand the definition of soliciting and how to use it correctly in a sentence.
What Does Solicit Mean? Kindly read on below.
Solicit: An Overview
To solicit is to seek out or ask for something in a formal or organized manner. It can mean to ask (someone) directly, to request (an action), or petition an authority. The noun form of soliciting is solicitation and refers to a formal request, like when you ask for a donation through your local United Way office. Solicitation also refers to criminal acts of seeking someone out with the intent to commit violence upon them; if that’s what you had in mind, we’d recommend a different approach—and using different words when talking about it at work! In general, though, solicit isn’t as dangerous as it sounds. When you solicit in conversation or writing, keep these definitions in mind: To request or ask for something formally or politely, especially donations of money from large groups of people. For example, We solicited donations from alumni all over the country before starting our new project.
To ask someone directly for information or a favour, often in a forceful way. For example, I was solicited by several salespeople when I visited my favourite clothing store yesterday afternoon.
To make repeated requests of someone to do something they don’t want to do; pressure them into doing it.
The Etymology of Solicit
In Medieval times, solicit meant something akin to today’s word cherish—suggesting that a certain type of concern was positive and desirable. While some will complain that people are stressed out these days, perhaps Medieval folks were onto something after all!
When To Use Solicit In A Sentence
When someone is concerned, they are showing a great deal of concern or attention towards something. The word can be used as a noun, adjective, or verb. Solicitous may also mean that someone is being pursued, such as if you were trying to obtain a loan from a bank. Here are some examples of how to use solicit in sentences. My mother was always very concerned about my safety growing up. The doctor was very concerned about my health and asked me many questions about my diet. The candidate has been very concerned about gaining votes from his constituents. I want to make an appointment with your office manager; I am interested in obtaining a loan. Several banks have solicited me over the past few months, but I haven’t found one that will work with me.
Solicit Vs Petition
Though both words, solicit and petition, are somewhat interchangeable (you can petition a judge or you can solicit business), there is a subtle difference between them. The petition refers to asking for something within someone else’s power to give, while to solicit means to ask for something you have power over yourself, like your own career or your community’s opinions on an issue. So, next time you want everyone in town to agree with you about something big and controversial (like new parking laws)… petition all day long! However, if you want people to subscribe and purchase your product or service (like a dating site), go out there and start soliciting! The worst thing they can do is say no… but they might buy from you anyway. So it never hurts to try!
Now that we’ve got those definitions clear – let’s talk examples! A good example of when to use solicit could be when describing asking friends and family members to donate money to your cause. Asking co-workers, neighbours, or even strangers would probably be petitioning. Another example would be lobbyists who lobby (yep!) their elected officials at city hall by petitioning their staff with various concerns around city policy. However, if you were at city hall trying to get one-on-one time with any of these elected officials, that would technically be a solicitation. Remember that persistence is key, no matter which word(s) you use, though – remember that persistence is key!
What Is a Consent Solicitation?
Before a company can legally sell shares of its stock to investors, it must first register those shares with either FINRA or an alternative trading system. It does so by filing a consent solicitation which is nothing more than an agreement to take applications from potential investors who want to buy shares and notification of how many are available for sale and at what price. If you’re considering investing in a company that has filed for an IPO, make sure you look up whether or not they’ve filed under Rule 415; that will tell you if they have or haven’t registered their securities yet. If they haven’t, think twice before writing them a check! There’s no guarantee they’ll be able to get registered, and there may not be any legal recourse if things go south. What Is Solicitation?: The act of taking orders or requests for products or services is called solicitation. Most businesses try to generate interest in their products before launching, which constitutes a solicitation, even if they don’t directly ask people to buy something. Businesses do everything from placing ads in newspapers and magazines, using billboards on highways, running TV commercials during prime time shows (and paying top dollar for commercial spots), hosting online contests with prizes that include product samples and asking friends and family members (with good marketing skills) to help spread the word about new offerings via social media platforms like Facebook and Twitter.
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Understanding a Consent Solicitation
When a company engages in a consent solicitation, its management seeks approval from its shareholders for one or more corporate actions; most often to increase debt. The company has to deliver specific information about these proposed corporate actions via a statement of information or another official filing with an appropriate regulatory body. But do you know why these solicitations are called consent solicitations? Because every shareholder that does not vote against these proposals is considered to have consented to them…So how can you use that knowledge? First, ensure your shares are registered and up-to-date before any big votes come up. If your shares aren’t properly registered, you could lose out on opportunities to participate in potential gains from a successful outcome. It’s worth noting that because of their unique nature, consent solicitations tend to be accompanied by extended deadlines and additional requirements (like having all shares properly registered). So make sure you stay on top of things if your company decides to go down that path!
Consent Solicitation and Activist Investors
How do we overcome opposition to shareholder proposals and director nominations? Several actions taken by activist investors in recent years have brought international attention to a process largely unknown outside of legal circles: shareholder consent solicitation. What is consent solicitation, why do activists use it, and how can companies defend against these attacks? The answers to these questions will be discussed below. [3] US Proxy Solicitation Rule (Rule 14a-8)
Rule 14a-8 under the Exchange Act requires an issuer who has made certain material changes to its business or corporate structure or who has announced such changes in its public disclosures to provide notification of those changes. This requirement may be satisfied through either written communication with shareholders or oral communication through telephonic calls or webcasts. Written notice must be given at least 30 days before any votes are solicited on material matters requiring shareholder approval under Section 14(c) of the Exchange Act (such as a proposed merger). The oral notice must be given no later than 20 days before such solicitation occurs.
Example of a Consent Solicitation
In a consent solicitation, an issuer asks for a non-binding vote on a matter by their shareholders, directors and security holders to get feedback before making any decisions. These include proposals to amend corporate charters or Bylaws, annual elections of directors and certain transactions such as mergers and acquisitions. Shareholders are asked to approve the proposal through their votes rather than written consent. The specific voting requirements will be spelt out in documents filed with SEC. It is important to note that even if you do not give your consent via written consent, you may still be bound by actions taken at a meeting where you were present. If you abstain from voting your shares, you may also be bound by action taken at such a meeting. An exception would be when you own less than $2,000 worth of stock. For example, in June 2014, CBS Corporation held a consent solicitation for amendments to its Bylaws which included provisions relating to the Board size and composition; term limits; declassification of Directors; increasing advance notice requirements; reclassification of Directors into three classes with staggered terms; removal rights (for either cause or without cause); distribution restrictions on equity awards and Executive Severance Provisions.
The Benefit of Consent Solicitation
When trying to determine whether or not a proposed transaction is subject to FTC jurisdiction, you need to consider whether or not consent solicitation applies. One benefit of consent solicitation is that it limits your risk of being sued by third parties who believe they have rights in an asset—because you can avoid any such lawsuits if you have sufficient reason to believe that a majority of shareholders are likely to give their consent. That said, let’s be clear: Consent solicitation does not help clear other important regulatory hurdles (such as antitrust or securities law), so don’t overstate its relevance for anything outside FTC jurisdiction (and make sure you check with your attorney!). Also, note that if you file a proxy statement under Section 14(c) of the Exchange Act, even though there is no requirement to do so when soliciting consent, companies must include disclosure regarding applicable risks and certain terms and conditions of consent.
The Bottom Line of Consent Solicitation
The bottom line is that, as a shareholder, you are being asked to give your consent for a proposal to issue corporate stock. This does not mean that your shares will be sold, nor do you have to vote in favour of the proposal. However, if you do nothing or vote against it, nothing will happen, and our company will issue no additional shares at any time. For example, suppose we get your consent and enough other shareholders also consent to reach 50% of our authorized capitalization level for each series of preferred stock. In that case, we’ll proceed with the issuance by filing an amended certificate of incorporation with Delaware. However, even if we don’t get your consent (or enough other shareholders’ consent), nothing will happen unless and until we decide to pursue another round of financing, which could take place years from now (if ever). So, there’s no downside here—your ownership stake won’t change either way. You can even remain anonymous; don’t sign anything.
