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

Category: C

CO-MANAGED INVENTORY

A specific quantity of a consumable item is stored at a customer’s premises, under agreement by the customer and owner-seller. The item is replaced, with the consent and knowledge of the customer,

COMMON DISASTER CLAUSE

The rule in life insurance stating that the beneficiary must wait a period of time to get their inheritance. It is paid to the estate. AKA survivorship clause.

COMMUNIQU

1. a message or object that is used to communicate. 2.a short report to update the public on a project.

COMPANY DIRECTOR

An elected member on the board of directors. They are responsible for policy but do not have to be a share holder or employee. The decisions made are based on meetings and

COMPENSATION COMMITTEE

A group that evaluates the pay and sets it for the senior level employees. The community might be involved. Goals, and awards might also be considered by a committee.

COMPETITIVE ANALYSIS

Comparing the performance of a firm and its compeition to find the reason for the difference.

COMPETITIVE PRODUCT

An asset sold that can make a profit based on price, quality, and sevice. It is better than what is already out there.

COMPLETION UNDERTAKING

When two companies agree to help each other finish a project and absorb the risk of loss that will occur. They make sure it’s done and that profit is made.

COMPLIANCE TEST

A test done to show a firm follows the rules of practice. Refer to substantice test.

COMPUTER

A machine with digital circuites that uses data and performs functions based on instructions.

CONCEPT OPTIMIZATION

The product development stage when consumers are surveyed regarding the best features of a new merchandise idea.

CONCORD

An agreement among parties. AKA concordance. Refer to concordat.

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