IMMATERIALITY is of complete irrelevance requiring no further consideration.
OPERATING INTEREST is the legal right to assets used to produce revenue, e.g., produce oil or gas from a well, accompanied by the responsibilities to pay production costs and assume the risks.
STOCK OPTION is a contractual right granted by a company to the named holder of the option the right to purchase the companys stock at a fixed price stated on the stock option within a specified period of time. If the stock option is not exercised within the specified period of time, then the contractual right lapses.
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