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The term stakeholder, as traditionally used in the English language in law
LAW

LAW may refer to:* Anti-tank warfare, e.g. the US Army M72 LAW or the British Army LAW 80*Palestinian Society for the Protection of Human Rights ...
 and notably gambling
Gambling

Gambling is the wikt:wager#Verb of money or something of material Value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods....
, is a third party who temporarily holds money
Money

Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main uses of money are as a medium of exchange, a unit of account, and a store of value....
 or property while its owner is still being determined.



In law
The role of stakeholder is a very old concept in law
LAW

LAW may refer to:* Anti-tank warfare, e.g. the US Army M72 LAW or the British Army LAW 80*Palestinian Society for the Protection of Human Rights ...
. A stakeholder was originally a person who temporarily holds money
Money

Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main uses of money are as a medium of exchange, a unit of account, and a store of value....
 or other property while its owner is being determined.






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Encyclopedia


The term stakeholder, as traditionally used in the English language in law
LAW

LAW may refer to:* Anti-tank warfare, e.g. the US Army M72 LAW or the British Army LAW 80*Palestinian Society for the Protection of Human Rights ...
 and notably gambling
Gambling

Gambling is the wikt:wager#Verb of money or something of material Value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods....
, is a third party who temporarily holds money
Money

Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main uses of money are as a medium of exchange, a unit of account, and a store of value....
 or property while its owner is still being determined.

  • More recently a very different meaning of the term has become widely used in management
    Management

    Management in business and human organization activity is simply the act of getting people together to accomplish desired goals. Management comprises planning, organizing, staffing, leadership or directing, and Control an organization or effort for the purpose of accomplishing a goal....
    . In a business context, a "stakeholder" is a person or organization that has a legitimate interest in a project or entity. The new use of the term arose together with and due to the spread of corporate social responsibility
    Corporate social responsibility

    Corporate Social Responsibility , also known as corporate responsibility, corporate citizenship, responsible business and corporate social opportunity is a form of corporate self-regulation integrated into a business model....
     ideas, but there are also utilitarian and traditional business goals that are served by the new meaning of the term (see Stakeholder theory
    Stakeholder theory

    The stakeholder theory is a theory of organizational management and business ethics that addresses morals and values in managing an organization....
     and below).


In law


The role of stakeholder is a very old concept in law
LAW

LAW may refer to:* Anti-tank warfare, e.g. the US Army M72 LAW or the British Army LAW 80*Palestinian Society for the Protection of Human Rights ...
. A stakeholder was originally a person who temporarily holds money
Money

Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main uses of money are as a medium of exchange, a unit of account, and a store of value....
 or other property while its owner is being determined. This is, for example, the situation when two persons bet
Gambling

Gambling is the wikt:wager#Verb of money or something of material Value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods....
 on the outcome of a future event and ask a third, disinterested, neutral person to hold the money (or "stake[s]") that they have wagered (or "staked"). After the event occurs, the stakeholder distributes the stakes to one or both of the original (or other) parties according to the outcome of the event and according to the previously decided conditions. Courts sometimes act as stakeholders, holding property while litigation between the possible owners resolves the issue of which one is entitled to the property. Trustees also often act as stakeholders, holding property until beneficiaries come of age, for example. An "escrow
Escrow

Alternative definitions of an escrow account is:...
 agent" is one kind of trustee
Trustee

Trustee is a legal term that refers to a holder of property on behalf of a beneficiary . A Trust law can be set up either to benefit particular persons, or for any Charitable trust : typical examples are a testamentary trust for the testator's children and family, a pension trust , and a charitable trust....
 who is a stakeholder, usually in a situation where part of the purchase price of property is being held until some condition is satisfied. In legal documents, the escrow agent is often referred to as a "mere stakeholder."

See also


  • Stakeholder analysis
    Stakeholder analysis

    Stakeholder analysis is a term used in project management and business administration to describe a process where all the individuals or groups that are likely to be affected by the activities of a project are identified and then sorted according to how much they can affect the project and how much the project can affect them....
  • Stakeholder theory
    Stakeholder theory

    The stakeholder theory is a theory of organizational management and business ethics that addresses morals and values in managing an organization....
  • Stakeholder pension scheme
    Stakeholder pension scheme

    Stakeholder pension schemes were introduced in the United Kingdom in 2001 to encourage more long term saving for retirement, particularly among those on low to moderate earnings....
     - a type of pension introduced by the UK Labour
    Labour Party (UK)

    The Labour Party is a political party in the United Kingdom. Founded at the start of the 20th century, it has been since the 1920s the principal party of the Left-wing politics in England, Scotland and Wales, but not Northern Ireland, where it has only recently organised again....
     government in 2001.
  • Stockholder