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  "representation": "Derived readable representation; verify signatures against the canonical source files.",
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      "content": "---\nbcp_version: \"0.8\"\nfile_type: boundaries\nparent: https://registry.brandcontextprotocol.dev/houlihan-lokey-f12a9db6/.well-known/brand.md\nlast_updated: 2026-09-08\n---\n\n# Boundaries\n\nThis public-source demonstration does not authorize an agent to speak for Houlihan Lokey, provide regulated advice, disclose client information, or invent engagement facts.\n\n## Hard no\n\n```yaml\nhard_no:\n  - \"Do not present this BCP as official, approved, domain-verified, or authored by Houlihan Lokey.\"\n  - \"Do not provide investment, legal, tax, accounting, fairness, solvency, valuation, restructuring, or securities advice in Houlihan Lokey's name.\"\n  - \"Do not promise a transaction, financing, valuation, restructuring, recovery, timing, price, regulatory, or litigation outcome.\"\n  - \"Do not disclose, infer, or fabricate nonpublic clients, counterparties, engagements, bids, valuations, fees, opinions, conflicts, deliberations, or transaction terms.\"\n  - \"Do not claim Houlihan Lokey is free of all conflicts. Use independence language only in the specific professional context supported by a source and engagement.\"\n  - \"Do not call a transaction closed, completed, pending, exclusive, or valued at a stated amount unless the current official announcement supports every term.\"\n  - \"Do not convert league-table leadership into an unsourced claim of quality, market share, revenue, transaction value, or superiority.\"\n  - \"Do not use the Houlihan Lokey name or logo to imply endorsement of Encoded Brands or this demonstration.\"\n  - \"Do not generate or approximate the Houlihan Lokey logo. Use only current official assets supplied or verified by the firm.\"\n  - \"Do not make forward-looking statements, earnings guidance, acquisition claims, or market forecasts on the firm's behalf.\"\n```\n\n## Soft no / review required\n\n```yaml\nsoft_no:\n  - topic: \"Rankings and awards\"\n    rule: \"Include year, exact category, ranking basis, source, and exclusions. Recheck before publication.\"\n  - topic: \"Financial performance\"\n    rule: \"Use the fiscal period, distinguish GAAP from adjusted measures, and link the current filing or release.\"\n  - topic: \"Transaction credentials\"\n    rule: \"Use only public transactions and reproduce the firm's exact advisory role. Confirm status and disclosed value.\"\n  - topic: \"Independence and objectivity\"\n    rule: \"Tie the language to a service or engagement context. Do not imply universal absence of conflicts.\"\n  - topic: \"Client outcomes or testimonials\"\n    rule: \"Require published authorization and exact attribution. Do not infer satisfaction from repeat business or rankings.\"\n  - topic: \"Sustainability and inclusion\"\n    rule: \"Use current reported programs and metrics. Avoid claiming complete achievement, universal experience, or external assurance without evidence.\"\n  - topic: \"Competitive comparisons\"\n    rule: \"Use neutral, sourced category facts. Legal and brand review required before naming another firm in promotional copy.\"\n  - topic: \"Recruiting promises\"\n    rule: \"Do not guarantee assignments, promotion, compensation, hours, mobility, or employment outcomes.\"\n```\n\n## Brand safety\n\n```yaml\nbrand_safety:\n  adjacency_unsuitable:\n    - \"unlawful financial promotion, fraud, market manipulation, insider trading, or evasion\"\n    - \"fabricated transaction announcements, rumors, or confidential deal information\"\n    - \"hate speech, harassment, exploitation, or graphic violence\"\n    - \"deceptive impersonation or endorsement\"\n  adjacency_contextual:\n    - \"bankruptcy, distress, layoffs, litigation, and investigations when directly relevant to legitimate advisory work\"\n    - \"politics and public policy only where relevant to markets, regulation, government clients, or disclosed firm activity\"\n    - \"competitor names in factual league tables or neutral market analysis\"\n  escalation:\n    - \"Any content that could reasonably be understood as regulated advice\"\n    - \"Any client-specific or transaction-specific statement not already public\"\n    - \"Any claim involving a pending matter, fairness opinion, solvency opinion, valuation conclusion, or conflict\"\n    - \"Any use of non-GAAP financial measures outside the source's reconciliation context\"\n```\n\n## Entity distinctions\n\n- Houlihan Lokey is an investment bank and financial advisory firm; do not describe it as a consumer bank that takes deposits.\n- Advisory, placement, valuation, and opinion services are distinct. Do not collapse them into lending or principal investment.\n- A client's or counterparty's statements are not Houlihan Lokey's statements.\n- A transaction tombstone records a role; it does not establish that the advisor caused every outcome or endorses every party.\n- Houlihan Lokey, Inc. and its subsidiaries and affiliates may have jurisdiction-specific roles and registrations. Use the applicable legal entity and disclosure when required.\n\n## Sources\n\n- https://hl.com/terms-of-use/\n- https://hl.com/services/\n- https://www.sec.gov/Archives/edgar/data/1302215/000130221526000053/hli-20260331.htm\n- https://investors.hl.com/corporate-overview/governance-documents/default.aspx\n",
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