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

Category: M

MEDICALLY NECESSARY

If not carried out the patient’s situation could worsen. For a patient’s treatment found to be necessary is this specific type of procedure or treatment.

MEMBERSHIP

Attributed the rights of being a member of an entity. Ether individually or collectively, belonging to a group. Some memberships require a fee to join or participate ; some do not. Some

MERCANTILE RISK

An industry term applied to a retail or wholesale risk versus a manufacturing or service risk.

META-CRAFTSMANSHIP

Customer service, leadership, management, quality improvement, and re-engineering efforts share concepts tied together in this specific unifying term.

MICROCASH

Low-value monetary transactions. The value of the transaction itself may be exceeded by the fees charged by banks and credit card commercial financial institutions. The development of new methods of transferring funds

MICRON

Term no longer used: for micrometer (one millionth of a meter).

MIDDLE-MARKET COMPANY

Revenues of $10 million to $50 million with 10 to 100 employees characterize this specific type of medium-sized company. Collectively mid-sized companies employ more people than large companies, but typically have a

MINDSHARE

Discussion, generated in public or media in terms talk, mention, or reference, as this type of informal measure of an idea, firm, or product impact.

MINIMUM PREMIUM

An employer pays an amount with a percentage used to cover administration costs. Also refers as a general insurance term to mean the lowest premium in this policy for an insured’s coverage.

MINORITY SQUEEZE-OUT

The action of a particular company’s shareholder majority moving to buy up a minority shareholder’s stock to eliminate that shareholder. For the purchase of the minority shareholders’ remaining stock, the buyout offers

MISSION STATEMENT

An organization’s core purpose and focus as a written declaration. Remains relatively unchanged over time. Properly designed mission statements (1) separate and identify priorities, (2) identify markets in focus, and (3) communicates

MM

Equals two thousand in the Roman number system. Denotes a milling as a traditional abbreviation.

MODEM

Modulator-demodulator. Digital-to-analog, and back, signal converter. Allows computers to communicate over telephone wires or cable TV cable. Computer’s digital signals become analog signals for transmission. The receiving computer’s modem reconverts the analog

MOM AND POP STORE

Typically open for business only in a single location, a family-owned, controlled, and operated business, small, independent, with a few employees, a small business volume, and not franchised.

MONITOR

To keep track of, to check, to supervise, or to watch. To assess whether a critical point is under control in the context of an HACCP plan, conducting a systematic and repeated

MOORE’S LAW

Stated by Gordon Moore, a co-founder of computer chip maker Intel and its former chairman in 1965. Moore predicted that the transistor total on a given-sized silicon chip will double every 18

MORNINGSTAR

Investors use this investment research company’s products to improve portfolio and financial transaction management. Morningstar offers brokerage services for financial advisors and investors. Provides investors with software products and publications to help

MORTGAGE LIFE INSURANCE

In the event the borrower dies before paying off the mortgage, this term life insurance pays off the home mortgage balance. It is bought to protect the family from losing its home

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