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Latham in Focus Video Series

The Book of Jargon Series – Word of the Day®

The Book of Jargon® is a series of practice area and industry-specific glossaries published by Latham & Watkins.

High Splits

when the holder of the Incentive Distribution Rights (often the General Partner) is receiving distributions at the highest marginal percentage (typically 48 percent, exclusive of the General Partner Interest), it is sometimes said that the holder is “in the high splits.” See Incentive Distribution Rights.

Word of the Day®

Abstract

a document showing the Encumbrances and Liens associated with a certain Property. The Abstract includes the names of all the Property owners and documents that affect the Property, such as Mortgages, Deeds, Covenants, restrictions, Property taxes, and the like.

Word of the Day®

R-squared

a measure of how a Hedge Fund's returns are correlated compared to the broader market. Zero (0) indicates no correlation; one (1) indicates perfect correlation; minus-1 indicates a perfect inverse correlation.

Word of the Day®

Active Learning (or Continuous Active Learning)

a type of machine learning in which an algorithm analyzes a document reviewer’s Coding decisions to predict and rank Coding outcomes for unreviewed data. A form of AI, Active Learning also efficiently sorts, prioritizes, and codes unreviewed data. Basically, Active Learning is lawyers leading machines and machines leading lawyers.

Word of the Day®

Wins Per Day

the theoretical number of wins per unit per day on a gaming machine.

Word of the Day®

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