lockup n1 : a cell or group of cells (as in a courthouse) or jail where persons are held prior to a court hearing compare house of correction , house of detention , jail , penitentiary , prison
2 : the tactic of arranging with a friendly party an option to buy a valuable portion of one's corporate assets in order to discourage a takeover by another party
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.