Pronunciation: (lông'tûrm", long'-),[key] —adj. 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.