11/4/18 What does ‘Preemption’ mean?
1) The principle that a federal law supesedes a state law (and a state law supersedes a local law) where both governments have made laws on the same subject and the laws conflict.
2) The right of purchasing before others (for example, a preemptive right).
And what is a ‘Preemptive Right’?
The right of a shareholder in a corporation to have the first opportunity to purchase a new issue of stock of that corporation in proportion to the amount of stock already owned by the shareholder.