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TeachMeFinance.com - explain Firm historic definition... Firm -- A partnership. Also, firm as used in a transaction means fixed. A firm price is a fixed price ; a firm bid is a bid that will be adhered to (usually for a specified of understood period). Subscribers to underwriting syndicates usually receive a commission; when the subscriptions are firm the subscribers receive no commission but pay the agreed price for the securities subscribed for. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.