Definitions for "Related Party Transaction"
A transaction where two or more of the parties had a special relationship prior to the transaction taking place, such as a transaction between the company and a major shareholder.
Business or other transaction between persons who do not have an arm's-length relationship (e.g., a relationship with independent, competing interests). The most common is between family members or controlled entities. For tax purposes, these types of transactions are generally subject to a greater level of scrutiny.
a transaction between a USPPI and a foreign consignee, (e