Administration Bond

Eventually, they'll promote James Bond to M's position, and he'll spend most of his time in budget meetings, or briefing division heads about upcoming website upgrades. The TV series covering this little IP corner will be called "Administration Bond."

Until that show premieres, the term refers to a mechanism used to make sure that the administer of an estate properly disburses the estate's assets.

This comes up when an estate goes into intestate, meaning that a person died without leaving a will. The probate court can appoint a third-party administrator for the estate, who will make sure the assets are dispersed properly.

Naming such a person to oversee the distribution of assets opens up the possibility of fraud or other dirty dealing. A person is now in charge of a pile of money, and that person has no personal interest in any of the other people involved. To protect against funds getting used improperly, a bond is posted that assures the administrator will follow proper procedure as they take care of the estate. This is called an "administration bond."