The Law Dictionary

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

Category: K

KNOWLEDGE WORKER

Data analysts, product developers, planners, programmers, and researchers capturing data to analyze and manipulate into information as a product or service. US management guru Peter Drucker, born in Austria in 1909 popularized

KELVIN (K)

Irish physicist William Thomson (1824-1907),honored as 1st Baron Kelvin (Lord William Kelvin), developed this scale. Temperature scale beginning at absolute zero (273.15

KEY PROCESS

Customer service and satisfaction, competitive advantage, and strategic success are essential business workflows In management’s view.

KICKING THE TIRES

Shopping by a potential investor for an investment brokerage firm described creatively.

KNOCK OFF

1. A very similar looking product copy a patented, trademarked, or copyrighted product or work that is cheaper as an illegal version. 2. A cheaper version of a higher-priced material or product

KNOWLEDGE-BASED PAY

Earnings system that compensates employees skill level proficiency and gained education. The employee incentive is improve skills set and education. Reaching certain goals in education, training and skill development translates into higher

KEOGH ACT PLAN

Also referred to as a HR-10 plan. A plan that allows those who are self-employed to set up a retirement plan and have access to tax benefits comparative to the benefits offered

KEY PUNCHING

Keyboard or keypad driven computerized data entry. Prior to PCs, to issue commands or store data in the era of mini or mainframe computers, key punching was actual punching of holes in

KICKOFF MEETING

Pre-launch gathering of stakeholders and prime movers of a program or project. Agenda is strategy, direction, roles, goals, and objectives.

KNOCKED DOWN (KD)

An article taken apart, folded, or telescoped to reduce its shipping size by at least one third (33 1/3 percent) of its assembled bulk or size. Such articles, be they bicycles, fans,

KONDRATIEFF CYCLE

Russian economist Nikolai Dmitrijewitsch Kondratieff (1892-1938) propose this cycle. The usual boom-bust cycles characteristic of a capitalist economy plays out over a period of about 60 years of major capital goods expansion

KEOGH PLAN

In the US self-employed individuals and employees with no pension plan can set up this self-contributory saving or pension plan. New York Congressman Eugene J. Keogh proposed it. Individuals set aside a

KEY RATIOS

Business analysts evaluate a firm’s financial position and income using these financial performance measures. They are reliably indicate management competence, specifically when compared to previous periods or against a competitor’s ratios. Net

KIDNAPPING COVERAGE

A package crime policy typically has this type of insurance coverage. Covers the dangers of a person captured against that person’s will, beyond the insured’s property, forced to enable a criminal act,

KNOCK-IN OPTION

Event-driven benefit payoff tied to something occurring like a specific change in an asset’s price. Contrast to knock-out option.

KRAFT PAPER

At least 80 percent virgin wood pulp is in this strong brown unbleached paper.

KERBEROS

User authentication scheme for Open source (non-proprietary) and public domain (free). A client-server environment’s network security system. Named after Greek mythology’s fierce three-headed guard dog. At user login and every service request,

KEY SPLITTING

Security scheme requiring unifying parts so that a decryption key can be used. Separated parts occur by dividing a code number or decryption algorithm into two or more parts so that no

KIDNAP-RANSOM INSURANCE

Rather rare coverage found in few markets. No standard rates exist. A financial institution protects itself in case a named employee is kidnapped and to be ransomed.

KNOCK-OUT OPTION

Event-driven benefit payoff tied to something not occurring like a specific change in an asset’s price. Contrast to knock-in option.

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