The Law Dictionary

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

Category: G

GLOBAL INFORMATION INFRASTRUCTURE (GII)

Proposed telecommunications and information technology networks as a governmental and nongovernmental, worldwide infrastructure. Its objective is dissemination of information and remote collaboration spurring faster and greater economic growth.

GLOBAL WARMING

Temperature steadily rising for the near-surface, lower atmosphere average. Currently believed from emissions build-up of greenhouse gases (refer to greenhouse effect). This temperature has risen by 0.6

GOAL SETTING

One principle is that performance is enhanced when a person sets specific goals. Setting tougher goals drives higher performance than setting easier goals is a second principle. This is a motivational technique

GOLDEN BOOT

To accept a ‘voluntary separation’ or retirement proposal, this incentive is offered to an unwanted employee. Also refer to golden handshake.

GOOD FAITH

Sometimes legally binding due diligence around the effort made, information given, or transaction done, honestly, objectively, with no deliberate intent to defraud the other party. Yet, this does not cover a sin

GOOD-TILL-CANCELLED ORDER

Customer-to-broker buy or sell order that stays open at a specified price and order terms until (1) the order is executed, (2) or cancelled by the customer, (3) or expires after a

GOVERNMENT INTERVENTION

Government interruption of actions taken based on an entity’s decisions. Typically, a regulatory-based interruption. Typically, concerning social and economic issues.

GRADED PREMIUM

The beginning premium of a contract is low and increases over time based on a schedule.

GRANDFATHER CLAUSE

Exemption-allowance statement. Insulates specific entities, object, or situation from the fallout of changes or imposition of a decision. It could be a rule, law, or statute with pre-existing conditions. An example is

GRAY LIST

An organization’s position with an investment bank renders these stocks ineligible for trade. Ongoing matters of acquisitions and mergers of companies push stocks onto the gray list and are not traded by

GREEN MONDAY

The second Monday in December is the retail industry’s name for this day. Last-minute holiday shoppers allegedly make this day the strongest retail sales day.

GRIEVANCE PROCEDURE

Typically documented in a union collective bargaining agreement, this is a method or step-by-step process for an employee to get a complaint heard and resolved. Formal written complaint escalates up the levels

GROSS MARGIN

(Sales revenue minus Cost of sales) divided by Sales revenue calculates this value.

GROSS RATING POINT (GRP)

Weekly advertising schedule’s rating points tally. Can be tallied for longer periods. The tally can represent the percent of targeted households reached once per week, or the percentage of them reached 100

GROUND FLOOR

Beginning period with lowest expense and highest gain of a new venture or investment opportunity.

GROUP DYNAMICS

1. Character, ability, opinion, force of will intertwining for development and survival among people with a common objective. 2. Group behavior decomposed into principles as a field of study.

GROUP OF SEVEN (G-7)

The major powers in finance that meet to debate monetary policy and economics. They are part of the OECD. They are Canada, France, Germany, Italy, Japan, United States of American, and the

GROUP THINK

When group members agree with the majority. This causes alternative actions to be not taken or even heard. It can lead to a disasterous decision.

GROWTH STAGE

The third state in a life cycle when revenue raises fast and profits peak. The decline begins after this.

GUARANTEED PRICE

When a manufacturer or supplier refunds the difference in price while the agent still has the goods bought at a higher price. fIt helps agents order in bulk and not lose due

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