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

Category: G

GLOBALIZATION

Economic, financial, trade, and communications integration moving worldwide.

GOING CONCERN VALUE

An operating, normally functioning business’ worth to a buyer. This worth is usually more than the sum of the market’s liquidation value of this entity’s assets. It is viewed as excess value

GOLDEN HANDCUFFS

Contractual reasons that keeps a key employee or a former owner working with a firm. A penalty for premature termination could require relinquishing all unvested stock. In exchange, the person might get

GOODNESS OF FIT

Warm fuzzy; level of confidence. Degree of comfort that a sample survey’s or test result are reliable for making dependable projections. Described formally as the degree of linear correlation of variables, it

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

GREATER FOOL THEORY

Puts forth the view that any price, as unrealistic as it might be, is warranted if one buyer believes that another buyer will pay an even higher price for the same item.

GROSS BLOCK

A count of valued entity instruments. Long-term asset depreciable costs are excluded.

GROSS NATIONAL INCOME

Total international income added to the gross domestic product (GDP) makes up this value. Government expenditures plus international assets generated income plus gross exports generated income minus gross import taxes minus indirect

GROSS SALES

Un-adjusted, total sales invoice value. Un-adjusted means prior to deducting discounts or returns, or miscellaneous adjustments.

GROUP

1. Two or more of something with some type of commonality. Typically, people who work together to achieve a common set of goals. This involves regular contact, frequent interaction, mutual influence, and

GROWTH SHARES

Shares a firm issues that are consistently above average earning. They are traded at more money over a long period of time. AKA growth stock.

GUEST WORKER

A party that has special permission to work temporarily in another country when a shortage occurs.

GAMBLING

Betting; wagering. Results in either a gain or total loss of wager, the money or asset put up. Neither risk-taking nor investing, nor like insurance. Risk taking or speculation takes on substantial

GARMAN KOHLHAGEN MODEL

Foreign exchange’s European call option value estimating formula. Risk-free interest rate paid on foreign currency is a continuous dividend yield in this formula. Borrowing and lending takes place at the same interest

GAUGE REPEATABILITY & REPRODUCIBILITY (GR&R)

Measurement accuracy determination. Confirming a test result by several measurements taken by the same person are identical in value, setting its repeatability, and several measurements taken by different persons are identical in

GENERAL AND ADMINISTRATIVE EXPENSE (G&A)

Accounting for expenditures not directly associated with goods or services production. Money spent in operating a business for typical things, such as rent, salaries, telephone charges, and the like.

GENERAL STRIKE

Seeking to extract concessions, this type of labor stoppage tries to paralyze a country or regional economy. Far-reaching labor stoppage in most or all industries. Rare in developed countries. The last one

GENERIC NAME

Once exclusive, unique brand names that now identify a category for all brands under this respective category of products. Fridge (refrigerator), PC (desktop computer), Thermos (vacuum flask) are some examples. Generic names

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