I
Independent expert determination
An independent determination of the rent to be paid on review. Independent expert determination differs from arbitration in that the independent expert is not confined to the evidence presented by the parties.
Indexation
The regular adjustment of a rent in accordance with a specified index, eg the Retail Price Index.
Indictable Offence
A criminal offence that can only be tried by the Crown Court. The different types of offence are classified 1, 2, 3 or 4. Murder is a class 1 offence.
Indictment
A written statement of the charges against a defendant sent for trial to the Crown Court, and signed by an officer of the Court.
Individual Voluntary Arrangement (IVA)
A voluntary arrangement for an individual is a procedure whereby the person comes to an arrangement with his creditors as to how their debts will be discharged. Such a scheme requires the approval of the court and is under the control of a supervisor.
Infringement
The unauthorised copying or use of a protected form of intellectual property.
Inheritance Act claim
A claim by someone for better provision under the will of someone from whom they were receiving financial support.
Inheritance Tax
Tax payable on the transfer of assets either during an individual’s lifetime or on his or her death.
Injunction
An order issued by the court preventing or requiring action, often in an emergency.
Injunctive relief
The granting of an injunction.
Insolvency Practitioner (IP)
A person authorised by an approved body to act as an IP. The only people who may act as office holder in an insolvency proceeding.
Insolvent
The state of not being able to pay one’s debts as they fall due or having an excess of liabilities over assets.
Insolvent Liquidation
A company goes into insolvent liquidation if it goes into liquidation at a time when assets are insufficient for the payment of its debts and other liabilities and the expenses of liquidation.
Institutional lease
The typical institutional lease has been developed in England since the 1960s to meet the requirements of the pension funds and insurance companies investing in property. Generally tenants pay for all repairs and insurance to give the landlord a clear net income and minimise his management costs.
Insurance
The cover provided by an insurer to protect the insured from certain risks.
Intangible property
Items that represent value but are not actual, physical objects. Examples include stocks in a company, bonds, bank notes, trade secrets, patents, copyrights and trademarks.
Intellectual property
Property that derives from the work of the mind or intellect. May receive legal protection through such mechanisms as copyright, patents and trade marks.
Intellectual property rights (IPR)
Intangible property rights resulting from intellectual effort, including patents, designs, copyright.
Interim Hearing
A Court hearing that does not finally dispose of the claim.
Interim Order
An individual who intends to propose a voluntary arrangement to his creditors may apply to the court for an interim order which, if granted, precludes bankruptcy and other legal proceedings whilst the order is in force.
Interim payment
Money that a Court instructs the Defendant to pay (or they agree to pay) whilst waiting for a settlement or for the Court’s final decision.
Interim rent
A landlord may apply to the court to fix an interim rent when he has given notice of termination of a tenancy or where the tenant has served notice of a request for a new tenancy on the landlord.
Intestacy
The situation that arises when someone dies without making a will.
Invention
The creation of a new technical idea and of the physical means to accomplish or embody it. To be granted a patent, an invention must be novel, have utility and make a distinct and recognised contribution to the advancement of science.
