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

Category: G

GROSS NATIONAL HAPPINESS (GNH)

Psychological and physiological attempt to measure national happiness as a part of GDP (Gross Domestic Product). Bhutan’s former King Jigme Singye Wangchuck coined it in 1972. Techniques vary, but a widely used,

GROSS SALARY

Un-adjusted by deductions, total aggregate employee wage amount. Pay can occur weekly, biweekly, or monthly. Value before federal and state taxes are deducted. This value is one factor creditors use to base

GROWTH POTENTIAL

The probability that a business will grown. It uses sales and revenues to predict this.

GUEST WORKER

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

GALVANIZING

The coating of steel with a zinc film. Provides long term corrosion protection and abrasion resistance, up to generally 10 to 30 years. The tried and true hot-metal bath and the newer

GARBAGE-IN, GARBAGE-OUT (GIGO)

Computer industry phrase. Denotes that a program working on inaccurate data yields only misleading results. Promotes the attitude of assuring high quality of source information for a computerized system to better assure

GATHERING IN THE STOPS

Forcing stock prices lower to encourage investor buying at that lower price. Occurs by investment brokers initiating stop orders.

GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)

An agency of the United Nations established in 1948 to promote international free trade. GATT was actively involved in coordinating issues related to multilateral quotas and tariffs, export restraints, and intellectual property

GENERAL CRIME EXCLUSION

Protects the insurer from liability for damage to insured persons or property caused by criminal activity. Excludes a business or its employees from coverage if doing a criminal activity. An addendum to

GENERAL SERVICES

Insurance, medical, payroll, personnel, and security services not confined to any department or function, applicable to the entire firm.

GENERIC MARKET

Sellers satisfying buyers of similar need in various scenarios generate this type of market.

GIGABIT (GB)

One billion bits. Exponential: 2^30; As a number:1,073,741,824.

GLASS

transparent material, Solid but easily breakable. Man-made; does not break down organically. material that is usually and breaks easily. For example, used for windows, eye glasses, and bottles. Made by fusing sand,

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

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