What is "lobster trap"

Lobster pot \Lob"ster pot\, n. a device used to trap lobsters, consisting of a semi-cylindrical structure made of wooden slats, with openings formed of funnel-shaped nets allowing lobsters to enter, but impeding their exit. It is also called a lobster trap.

n. (alternative name of: lobster pot)

A lobster trap or lobster pot is a portable trap that traps lobsters or crayfish and is used in lobster fishing. In Scotland (chiefly in the north), the word creel is used to refer to a device used to catch lobsters and other crustaceans. A lobster trap can hold several lobsters. Lobster traps can be constructed of wire and wood, or metal and netting or rigid plastic. An opening permits the lobster to enter a tunnel of netting or other one way device. Pots are sometimes constructed in two parts, called the "chamber" or “kitchen”, where there is bait, and exits into the “parlour”, where it is trapped from escape. Lobster pots are usually dropped to the sea floor about a dozen at a time, and are marked by a buoy so they can be picked up later.

A lobster trap, in corporate finance, is an anti- takeover strategy used by target firms. In a lobster trap, the target firm issues a charter that prevents individuals with more than 10% ownership of convertible securities (includes convertible bonds, convertible preferred stock, and warrants) from transferring these securities to voting stock. The term derives from the fact that Lobster traps are designed to catch large lobsters but allow small lobsters to escape.

Lobster trap or lobster pot may refer to:

• Lobster trap, a trap for lobsters and spiny lobsters
• Lobster trap (finance), an anti-takeover strategy
• Capeline, or "lobster-tail pot", a cavalry helmet