Pronunciation: (lông'tûrm", long'-), [key]
1. covering a relatively long period of time: a long-term lease.
2. maturing over or after a relatively long period of time: a long-term loan; a long-term bond.
3. (of a capital gain or loss) derived from the sale or exchange of an asset held for more than a specified time, as six months or one year.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.