What does forfeiture mean?
The act of giving up or surrendering something, especially a right or privilege, as a penalty or punishment. The loss of something, such as a right or privilege, as a penalty or punishment.
Example
"The company's license was revoked due to non-compliance, resulting in a significant forfeiture of revenue."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.