A no-man's-land, (noun) is ground or on land which is considered unowned, wasteland or a disputed territory (usually between two opposing armies). A no-man's-land can also refer to an undefined or ambiguous place or state.

1. In terms of legality, the foreign company's attempted takeover of the local business was a bit of a no-man's-land as there was no precedent for it.
2. Despite their success, the company's owners found themselves in no-man's-land. The problem was that they were too big for their small domestic market, yet not big enough to compete with the major corporations in the international market. 

1. The patch of land between the commercial units is a no man's land and could potentially be turned into something useful for the community.
2. People experiencing homelessness often exist in a no man's land with no address and therefore no hope of finding work or access to services that can help them.