Ticket resale is the act of reselling tickets for amission to events. In British English, one who resells tickets is often called a tout, and in American English, Canadian English, and Australian English, such a person is often called a scalper, and the practice is called scalping. However, these are colloquial terms used to refer to individuals selling tickets on the street, outside a venue or event. Established companies in the business of reselling tickets prefer to call themselves ticket brokers though many fans still consider it scalping regardless of what euphemism is applied to it. Registered businesses reselling tickets to popular events are bound by laws, such as local and state laws in the United States, and must operate within those laws to maintain their status as a legitimate business. Like the scalpers of old, however, there are no restrictions on how much ticket prices can be marked up.