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protection

Level to which the capital is partially protected, below which the net asset value of a SGAM Flexible ETF may not fall in any rolling one-year period. NYSE Euronext Glossary

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protection pro‧tec‧tion [prəˈtekʆn] noun [uncountable]

1. the act of protecting something, or the state of being protected:

• Milk testing will add another layer of protection for consumers.

protection against

• Many people buy insurance as protection against an unexpected illness.

• legal protection for workers' rights

ˈbankruptcy proˌtection also ˈbankruptcy-law proˌtection LAW

laws to protect companies that are in financial difficulty, limiting payments they have to make to creditor S (= organizations they owe money to):

• If the company doesn't file for bankruptcy protection (= ask the authorities to give it protection from creditors ) it faces a major problem on June 15, when $42.2 million of payments on senior debt are due.

• The building company emerged from bankruptcy protection under a reorganization plan.

ˌChapter 11 ˈbankruptcy proˌtection LAW

in the US, the part of the law that gives protection to companies in financial difficulty:

• The trust operates under Chapter 11 bankruptcy protection.

conˌsumer proˈtection LAW COMMERCE

laws to protect people when they have bought goods or services, covering things such as price, quality, or safety:

• Meat inspectors say that the plan to reduce checks will undercut consumer protection against filthy food.

ˈdata proˌtection

LAW COMPUTING official rules or laws relating to information about a person stored on computer. These laws and rules say how the information can be obtained, how long it can be kept, whether other people or organizations are allowed to see it, and whether the person involved must be allowed to see it:

• an EU directive on data protection

• the Data Protection Act

inˈvestor proˌtection FINANCE

1. actions to encourage honest advertising of financial products, and to prevent fraud:

• The New York Stock Exchange's market regulation is a proactive form of investor protection against fraud and other illicit stockmarket activity.

2. actions to make sure that investors do not lose money if their investments default (= are not repaid):

• These securities often come with investor protection, such as bond insurance and letters of credit.

ˈjob proˌtection also emˈployment proˌtection LAW HUMAN RESOURCES

the legal right of employees to keep their jobs if, for example, they strike (= stop working to protest about something), or if the company they work for gets into financial difficulty:

• The auto maker may offer the job protection its union wants, in return for increased quality and productivity.

ˈpatent proˌtection LAW

laws protecting a person or organization that has developed a new product or way of doing something, preventing it from being copied by competitors for a particular length of time:

• Cutting the time it takes to get a drug approved also increases the duration of effective patent protection.

2. ECONOMICS when a government tries to help an industry in its country by taxing foreign goods that compete with it, so limiting the number that can be imported:

• The lowering of protection faces resistance from the region's industrialists.

3. INSURANCE the promise of payment from an insurance company if something bad happens:

• The conditions of the policy include protection against accidental damage.

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protection UK US /prəˈtekʃ^ən/ noun [U]

► the act of keeping someone or something safe from injury, damage, or loss, or the state of being protected in this way: »We need protection from bad or incompetent doctors.
»Retailers believe the magnetic cards give the banks less protection against fraud.
»The package of employments rights included full legal protection from dismissal for strikers.
»copyright protection

► LAW a situation in which a company in financial difficulty gets special legal treatment to help it stay in business: »Chapter 11 would grant protection from creditors while the company attempts to reorganize.

► ECONOMICS a situation in which a government helps a part of its country's industry by taxing goods from other countries or by limiting the amount of goods that can be imported: »Import protection has formed a key part of industrial development policies in many Asian economies.

► INSURANCE insurance against injury, damage, or loss: »The insurance policy provides protection in case of accidental loss of life or serious injury.
»an income protection policy

→ See also BANKRUPTCY PROTECTION(Cf. ↑bankruptcy protection), BRAND PROTECTION(Cf. ↑brand protection), CONSUMER PROTECTION(Cf. ↑consumer protection), CREDIT PROTECTION(Cf. ↑credit protection), DATA PROTECTION(Cf. ↑data protection), EMPLOYMENT PROTECTION(Cf. ↑employment protection), INVESTOR PROTECTION(Cf. ↑investor protection), JOB PROTECTION(Cf. ↑job protection), PATENT PROTECTION(Cf. ↑patent protection)

Financial and business terms. 2012.