Principal Place Of Business Legal Meaning and Definition

Here is a simplified definition of the legal term Principal Place Of Business.

Principal Place of Business (noun):

The principal place of business is the primary or main location where a business operates and manages its affairs. It is typically where key accounting records are kept, important decisions are made by high-ranking staff, and primary functions of the business are conducted. It should not be confused with a business' registered office (if they are not the same), which may just be a legal address for receiving official correspondence.