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

Category: F

FOCUS STRATEGY

When a company focuses on getting into a new market or industry.

FOOD BIOTECHNOLOGY

Applying technology to change genes to make new species and a more marketable product. It is a controvercial practice over the long term effects on the environment or humans.

FOOTPRINT

1. the area of an item using length and width. The space it takes up on a desk or on the floor.2. the space signals from a satelite can be recieved. It

FORENSIC EVIDENCE

Evidence that can be used in a court based on science. It can be blood tests, ballistics, and DNA.

FORMAL ORGANIZATION

An organization’s written, specific, approved rules set to govern its procedures and operations. These rules leave little room for misunderstandings. These rules may be strictly adhered to for compliance, or, as in

FORTY-FOOT EQUIVALENT UNIT (FEU)

Equals about 25 metric tons or 72 cubic meters. Container industry term denoting one forty-foot container measuring 40 x 8 x 8 feet, or two twenty-foot containers measuring 20 x 8 x

FORWARD TRANSACTION

With delivery set on a fixed future date, goods or services are bought or sold at a certain price.

FOUR STEPS OF TRAINING

(1) preparation, (2) presentation, (3) performance trial, and (4) follow through are the four essential steps in an on-the-job training programs.

FRAGMENTATION

1. In Computing, this is the separation of data in a single file over a wide area of physical disk storage. The data resides on non-contiguous areas of the disk. It is

FREE DOMICILE

Currently, more often referred to as DDP or Delivered Duty Paid. Describes shipper accountability for all transportation fees other charges until the goods reach the buyer’s premises.

FREE RIGHT OF EXCHANGE

Without incurring any charge or fee, a stockholder or shareholder can transfer shares to someone else.

FREEDOM OF TESTATION

An owner’s right to make testament of leaving any asset to anyone of the owner’s choosing. The only limitation is where the owner has other legal obligations, or where legal soundness of

FREEZING

Preserving food with cold to deactivate existing microorganisms in the food without killing them. A preservation method of flash-freezing.

FREQUENCY SCHEDULE

Maintenance timetable. How often and at what time should what attention be given to what thing.

FRIVOLOUS POSITION

Dishonest abuse of the judicial process in a tax court, using baseless, unsubstantiated, questionable facts, and/or an insincere stance to frustrate an opposing party.

FRONT RUNNING

An illegal practice where a DEALER, MARKETMAKER, or SPECIALIST executes a transaction in advance of a customer trade in order to capture favorable price movements.

FUGITIVE MATERIAL

1. Substance changed during or after a chemical process, becoming partially inert or deactivated. 2. Duplicate copies, fliers, handouts, pamphlets, program listings that have a short useful life as printed material.

FULL INVOICE VALUE

Beneficiary able to draw full invoice amount rather than partial value. Documented as a notation on a letter of credit.

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