Category: L

Diffusion of innovation theory holds that the majority group of roughly 34 percent of population is just ahead of the ‘laggards’ in trying or adopting a new product. This group’s members are

Company that involves itself in the business of law. Lawyers that work together under a specific firm name, may only focuses on certain kinds of law, deal with various general law cases.

Explaining how nature works by scientific generalizations. Arrived at by experimenting and/or observing or idealized descriptions.

Amount time needed to set up or prepare to execute from being told that execution must occur. Time that must be allowed to complete an operation or process, or time that must

Intent to be lean and Six Sigma. Management problem solving and quality initiatives approach. Based on Six Sigma and Lean tools combined.

the right to renew the lease is given in this lease statement to the lessee when the lease term ends, renewing or changing the rate.

Held as a ledger’s separate page. Classifies each as an asset, liability, or owners’ equity. Records each balance sheet item’s increases and decreases. Also known as an account.

Contest / conflict / disagreement concerning lawful existence of (1) a duty or right, or (2) compensation, by extent or type, claimed by the injured party for a breach of such duty

When a company is controlled by nonstock owners.

Lawful, mandated minimum monetary amount a financial institution maintains as security. Cannot be used to pay depositors. Must exist in legally prescribed form, such as cash. Credit in the local economy is

Legally established by federal or state laws, institutional coverages for such events as Flood Insurance or Medicare.

Stay in a hospital or similar medical facility as a total length of days.

Specified number of securities requested out of a new issue as an allotment is detailed in this document.

An allottee-stockholder-shareholder issues this written notification, renouncing or transferring new-issue allotted securities or rights to an issue to other stockholder(s).

Effort in providing service appropriate to satisfy customer needs and desires of clientele the firm wishes to attract and is not a profit killer. Measured amount and kind of service

Buying a company by using the company’s assets as collateral for the loan(s) to pay for the purchase. The company’s cash flow and assets are sold off to pay for the loan

1. If Nonpolitical, this is an entity that favors social solutions to economic, social, and other problems, and favors less law and restriction to personal freedoms. 2. If Political, this is an

Annuity from a certain date that pays over the life of an individual. Also known as whole life annuity.

Regular payment of a certain sum for the life of the annuitant guaranteed by this annuity. Payments continue to a designated beneficiary until the end of a set period in case the

An business-building entity whose purpose is altering their and others’ personal lifestyles, not solely for profit. Success in this business reflects well the passion the entrepreneur has for what it is doing.