The Law Dictionary

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

Category: K

KNOWLEDGE CREATION

Defined by Ikujiro Nonaka, interactions between explicit and tacit knowledge form new ideas. Socialization (tacit to tacit), externalization (tacit to explicit), combination (explicit to explicit), and internalization (explicit to tacit) are the

K-COMMERCE

Knowledge Exchange as the basis of an economy where knowledge capital is the defacto currency, an underlying premise in knowledge-based economies .

KEY MAN RISK

The effect losing one important member of the team causes.

KEYSTONE MARKUP

Gross margin equaling cost price or half the sale price. Said another way, any item selling at twice the wholesale cost, purchased or produced, has a keystone markup.

KINKED YIELD CURVE

When medium term interest rates are higher than low or high. Refer to negative yield curve, yield curve, and positive yield curve.

KNOWLEDGE ECONOMY

Building, evaluating, and trading knowledge is the basis of this economy. Labor costs slowly decrease in importance while dwindling concern occurs over scarcity of resources and economies of scale, traditional economic concepts.

KDE

K Desktop Environment. KDE was a project begun by Matthias Ettrich in 1996. It was developed mainly by European volunteers. It is a Linux-based non-proprietary graphical user interface (GUI). It works with

KEY MONEY

Deposit on a leased property paid by the lessee.

KEY-TESTED TELEX

Telex machine wire fund transfer messages authenticated using code (key) numbers. Contrast to modern digital data transfer. .

KIOSK

Upright, retail outlet display or entry-port in a large retail establishment or a shopping mall to assist customers.

KNOWLEDGE MANAGEMENT

Building of an organization’s intellectual assets by strategies and processes. Driving to identify, capture, structure, value, leverage, and share, enhancing results and market share. Two critical activities are its basis: (1) retain

KEEPWELL AGREEMENT

A parent company and a subsidiary imitate such a contract to guarantee the subsidiary all necessary financing over a specified time-period. The parent company provides this. This contracted support gives potential lenders

KEY PERFORMANCE INDICATORS (KPI)

Key business statistics as measures of a firm’s performance in critical areas. Typically, monitoring is essential for such business activities that would likely cause severe losses or outright failure if done incorrectly.

KICKBACK

A bribe for routing a job, contract, or order. Typically comes out of the income generated by the job, contract, or order. Demanded by an official.

KIT

One item under its own part number or SKU, comprised of several other finished goods (FG), each with its own SKU. Refer to separate stock keeping unit (SKU).

KNOWLEDGE MAP

Atlas of documents, files, databases, recordings of best practices or activities, or web pages as a organization’s internal or external repositories guide and inventory.

KEIRETSU

A group of companies who have a shared interest but are not organized into a central company. Refer to Chaebol.

KEY PERSON

Individual whose loss may cripple an organization. Knowledge, creativity, inspiration, reputation, and/or skills are essential assets for organizational viability and growth.

KICKER

Compensatin offered to a bank so a company can use its services. Refer to equity kicker, carrot equity, and sweetner.

KITTING

Process of grouping, packaging, and shipping one unit comprised of several other finished good. For example, in ordering a PC online, the supplier builds a customized kit, assembled and shipped as one

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