pre-emption rights
noun[plural]
ukus(alsopre-emptive rights)FINANCE,LAW
therightsofshareholderstobuynewsharesin the samecompanywhen theybecomeavailable, beforeothersareallowedtobuythem:
Thebroadcasteriskeentoexerciseitspre-emptionrightstosharesbeingsoldin the TVstation.