Dedimus potestatem is a legal term derived from Latin meaning “we have given the power” or “we have granted authority.” In the legal world, it speaks to the delegation or granting of certain rights and powers, such as the authority to take depositions, administer oaths, or inspect certain records.
What Does Dedimus Potestatem Mean for Your Business?
For businesses, dedimus potestatem has important implications. It is particularly pertinent when considering how courts or governmental agencies grant specific rights to individuals so that they may carry out their duties independently from the appointing body. This could include the authority to manage a trust, inspect documents, or serve as an inspector or receiver.
Determining the precise power or authority that has been granted to an individual requires a close assessment of the wording of the letter of designation or appointment.
Real-World Examples of Dedimus Potestatem
One recent example of dedimus potestatem in action is the appointment of a special prosecutor in the United States. In this case, the Attorney General authorized the hiring of an independent investigator to investigate potential wrongdoing.
Another example can be seen in the appointment of trustees of real estate trusts as part of estate planning. In this case, a trust grantor may grant the trustee with special rights of inspection or review of records held by third-party record holders, such as banks or other financial institutions.
Conclusion
Dedimus potestatem is an important legal principle that allows individuals to act independently on behalf of the state or another body. It is important for business owners and other legal professionals to understand what rights and powers have been granted to individuals so that they can carry out their duties accordingly. Understanding this principle is key to ensuring the integrity and effectiveness of any given task.