Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: B

BROMIDE PRINT

Paper print of an artwork or design which is also referred to as just bromide.

BUDDY SYSTEM

A cooperative arrangement whereby individuals are paired or teamed up and assume responsibility for one another’s instruction, productivity, welfare, or safety.

BUILDUP APPROACH

When you assess and formulate the projections by using an estimated cost of the task of objectives.

BUNCHING

The process of grouping together many small retail trade ORDERS (i.e., ODD LOTS) and combining them into a single large order. Bunching often permits better execution levels and reduces the administrative expenses

BUREAU RATE

A standard price per unit of insurance set by a state’s insurance rating bureau, the association of all the insurance companies authorized to write particular kinds of insurance in that state.

BUSINESS ALLIANCE

An agreement between businesses, usually motivated by cost reduction and improved service for the customer. Alliances are often bounded by a single agreement with equitable risk and opportunity share for all parties

BUSINESS CONTINUATION INSURANCE

Insurance designed to allow remaining partners or shareholders to purchase the portion of the company owned by a deceased partner or owner.

BUSINESS FORMAT FRANCHISING

The franchisee is licensed to use the franchisor’s products and trademark. The franchisee is also trained by the franchisor in the business model and format including selling, marketing, personnel procedures, inventory, and

BUSINESS PERFORMANCE MANAGEMENT (BPM)

A set of management and analytic processes that enable the performance of an organisation to be managed with a view to achieving one or more pre-selected goals.

BUSINESS UNIT

Strategic Business Unit or SBU is understood as a business unit within the overall corporate identity which is distinguishable from other business because it serves a defined external market where management can

BUTTERFLY SPREAD

A three-legged option spread in which each leg has the same expiration date but different strike prices. For example, a butterfly spread in soybean call options might consist of one long call

BY INDUCEMENT

A ship will go to the called port only if there’s enough space available and booked cargo which is known as

BACKED CURRENCY

When currency has value has value connected to another commodity like gold.

BACKLOG

The value of orders that are not yet filled or the undone jobs on any day. This shows that there is area for growth in teh company. AKA open order.

BAKA YOKE

An older term for poka yoke. The actual meaning is to fool proof.

BAROMETER

A tool that measures atmospheric pressure with mercury. The two types are mercury and aneroid barometers.

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