What is Blackout Period?

Legal Definition
1) In a financial context, a blackout period is a duration of time when a company's executives and/or employees who are privy to inside information are restricted from buying or selling any corporate securities. 2) A period during which employees of a company with a retirement or investment plan cannot modify their plans. 3) This term is often in regards to contracts, policies and business activities. For example, when a political party is unable to advertise for a set amount of time before an election.