Legal Articles

KERNEL

Computer operating system nucleus. Manages core operations and hardware resources allocation. Also refer to shell.

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KEY TELEPHONE SYSTEM (KTS)

Alternative to a private branch exchange (PBX) phone system, smaller, cheaper, but less flexible. Allows a caller to directly select outgoing lines, incoming calls, or use intercom and conference facilities via several buttons. A user does not have to dial ‘9’ to access an outgoing line as with PBX, but does not have automatic routing of incoming calls. A KTS is user-installable, handling multiple lines with no surcharge to the telephone company. However, a hunt-group service is not available.

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KILL

Cancelling an investment transaction prior to the system receiving its posting.

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KNOWLEDGE ASSET

A copyright, patent, other documentation that generates income as intellectual capital.

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KAIZEN

Small but continual improvements involving everyone from the chief executive to the lowest level workers achieves higher standards in quality enhancement and waste reduction. Mosaki Imai popularized it in his book ‘Kaizen: The Key To Japan’s competitive Success.’ Japanese term for a gradual approach.

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KERNING

Spatial adjusting between certain characters along a text line. Natural shape and slope improve character appearance. Letter combinations like WA and VA look awkward and slow smooth eye flow along a text line. Kerning smoothes the letter shapes. In italic types, this becomes crucial. Increasing font size as in headlines will show poor kerning. Adobe PageMaker, Adobe Indesign, and Quark’Xpress are well-known and used modern desktop publishing programs. Each allows both automatic and manual kerning. Simultaneous spatial adjustment of many letters along text lines is known as range kerning. Also refer to letter spacing and tracking.

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KEYBOARD

Computer-system external input device for data entry. It could be to a mobile device, a personal computer, or any other electronic machine. This device has keys with alphabetic, numerical, and common symbols used in everyday transcription. Personal computers connect to this device through serial or USB plugs. Also refer to QWERTY keyboard, Dvorak keyboard.

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KILLER BEES

While being overcome in a hostile bidding war, a company receives a saving grace.

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KNOWLEDGE BASE

Concepts, data, objectives, requirements, rules, and specifications as an organized knowledge repository. Typically this is a computer system, less often, an organization. It can be (1) a retrieval either as an expert system or artificial intelligence; (2) a human-based retrieval. As a system, it is software-based relational using data forms, design constructs, couplings, and linkages. As a human, physical documents and textual information is its basis.

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KAIZEN BUDGETING

A budgeting approach that includes product improvement costs. With the objective of reducing actual costs below standard costs, projected costs of improvement are already incorporated in the budget . Also refer to target costing.

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KEY EMPLOYEE

Essential, main employee stakeholder in corporate operations. May be an officer with voting rights able to influence the company. Any employee owning company assets 5% or more of the total and/or receives compensation exceeding a threshold set by the IRS is a key employee per the IRS. Also known as highly compensated employee.

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KEYED ADVERTISEMENT

Print ad coded in an advertisement address to identify the source of the query or order. The words ‘Dept. DN’, for example, may indicate ad placements in a newspaper named ‘Daily News.’ These allow an advertiser to place the same ad in different periodicals and measure the best means of promoting a particular offer from the responses.

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KILOGRAM CALORIE

Another name for kilocalorie (Refer to calorie).

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KNOWLEDGE BASED MANUFACTURING

Artificial intelligence or expert systems retrieval for a knowledge based system of automated production processes.

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KAIZEN COSTING

Reducing product costs even if being produced. A process involving effective waste management, continuous product improvement and raw material price reduction. Cost minimization is a strategy in overall product cost reduction.

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KEY ESCROW

Copy or copies of a code, password, or secret key protected by a third party for use in an emergency or when the originals) is(are) lost. Escrowed items may be separated to two or more third parties to mitigate risk of the trusted third party abusing its power. Typically, this is a fiduciary arrangement.

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KEYNESIAN

Supporter of governmental economic intervention by public policies driving for full employment and price stability. A follower of John Maynard Keynes, a believer in his economic principles.

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KILOWATT (KW)

Electrical power measure of a standard unit equal to 1000 watts. Equivalent to 1.34 horsepower, or 1000 joules per second as a measured consumption rate.

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KNOWLEDGE BASED SYSTEM

Artificial intelligence / expert system based software techniques. Used to solve process problems. Intended use is to respond to unique queries and expertise transfers, relating one domain of knowledge to another. Exists as a data store / relational database. Data is expert knowledge; retrieval is couplings and linkages; design is to facilitate retrieval.

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KARAT

Fineness, as a measure of the purity, of gold. It also indicate gold proportion in an alloy. UK spelling of both carat and karat is carat. Germany spelling is karat. 24 karats or a fineness of 1000 defines pure gold. One karat equals 41.66 fineness. 22 karat gold-alloy has 22 parts gold and 2 parts other metal, usually copper. Its fineness is 916.66, 91.666 percent pure gold. An 18 karat gold-alloy is 75 percent pure gold.

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