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

Category: M

MASTER BUDGET

A singular budget for rolling up and summarizing all of the organization’s integrated, individual budgets.

MASTERS OF BUSINESS ADMINISTRATION (MBA)

Students who successfully graduate from their college or university’s MBA program earn this particular advanced college degree. Traditionally a student will have already received a Bachelors degree in some area of study,

MATERIEL

For a project, operation, organization, or undertaking, this is all of the required apparatus, equipment, parts, and supplies, separate from the personnel.

MATURITY AMOUNT

On the date of its encashment or redemption, including accrued earnings, an investment’s value.

MAXIMUM DISABILITY POLICY

With stated limits for each claim allowing multiple claims for multiple different disabilities, this is a specific type of disability income insurance.

MEAN

The average of values or quantities. Known also as simple average or arithmetic average. Compute an average as the sum of all value amounts divided by the number of values tallied. For

MEDIA BROKER

Demographic, psychographic, and other factors as grouping characteristics on websites for internet advertisers this type of firm services.

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

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