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

Category: G

GREEN

Having attributes or objectives environmentally positive.

GROSS NEGLIGENCE

A severe degree of negligence taken as reckless disregard. Blatant indifference to one’s legal duty, other’s safety, or their rights are examples. There is no specific legal definition, but if one drives

GROSS TON

1. Another name for long ton (2240 pounds). 2. Another name for register ton (100 cubic feet or 2.832 cubic meters).

GROUP CURRENCY

If a company derives revenue in more than one currency, or has subsidiaries or divisions in foreign countries, its consolidated financial statement requires one currency for reporting. Each other currency is converted

GROWTH STRATEGY

When a larger market share is won at the expense of short term earnings. There are four strategies taht are diversificatin, product development, market penetration, and market developmen.

GUIDANCE LINE

A BANK LINE granted to a customer that is used by the lending institution for internal management purposes and is not specifically communicated to the customer. Since the client pays no COMMITMENT

GADFLY

Rabble-rouser; derogatory name for an intentional problem-causing investor at a stockholder meeting.

GAMBLING LOSS

Money lost by wagering. Legal gambling operations such as slot machines, horse races or lottery allows a person to submit a tax filing declaration of gambling losses, but these cannot exceed winnings.

GAS EXPORTING COUNTRIES FORUM (GECF)

Venezuela, Trinidad & Tobago, Russia, Qatar, Nigeria, Libya, Iran, Equatorial Guinea, Egypt, Bolivia and Algeria formed a group in 2001 that controlled 70% of the world’s gas production.

GDP GAP

A country’s potential gross domestic product versus its actual, realized gross measured over a specified time period. Actual GDP is perennially less than Potential GDP. This difference is stated as a measure

GENERAL EQUILIBRIUM

Surpluses or shortages are mitigated by buyers and sellers as decision makers on demand and supply requirements in all market situation.

GENERALLY RECOGNIZED AS SAFE

Applicable to both domestic and imported foods, this is a claim for a substance added to or contained in food, as being safe and exempt from food additive tolerance requirements. This is

GENERIC STRATEGIES

Strategic planning to improve competitive performance, usable by any firm in any market or industry. Differentiation strategy, focus strategy, and low cost strategy are three fundamental marketing strategies not mutually exclusive.

GEOTECHNICAL INVESTIGATION

Boring, sampling, and testing the soil strata below ground. Investigation analysis to establish compressibility, strength, and other characteristics of the strata. This is done as input to a construction project, preparing a

GIGAWATT (GW)

Equivalent to: 1.34 million horsepower or one thousand megawatts or one billion (10^9) watts. Supply enough power to a medium size city. A unit of electric power.

GLASS-STEAGALL ACT

Prohibited commercial banks from investment speculation. Speculation caused the collapse of many banks during the Great Depression. Became US law in 1933. Today, banks own brokerage firms and mutual funds and act

GLOBAL POSITIONING SYSTEM (GPS)

To provide satellite ranging, a system of 21 US satellites orbit earth twice a day at an altitude of 10,900 miles. Accurate to within a yard if supplemented by a ground-based transmitter.

GLOSSARY

Brief definitions related to a specific topic alphabetically arranged for reference. Known also as controlled vocabulary.

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