Category: N

Injuries that are sustained at work are not insured under this policy due to their coverage under the workers compensation.

Advantage gained by a product over its competition not by virtue of its attributes but by the creation of a distinct brand image through exclusive promotions, widespread distribution, superior customer service, etc

A ticket that prohibits monetary compensation when returned, but can be refunded for a fee.

An investment that ought to be cashed in a year after the start of the investment.

A treaty between Canada, the US and Mexico that was legislated in 1994, which removes tariffs and other barriers to facilitate easy trade between these countries. It lasts between five and ten

When negotiating a contract, it is the assurance from the vendor that the value of the property will not be greater than the proposed value and the estimates that will be submitted

The notification issued by a court to the participants of a lawsuit, highlighting the date of the schduled trial.

Something redundant, or that has no value, or effect, commonly used in the legal sense.

Wage in current dollars, as an indicated of its purchasing power of goods and services. It differs from its true value.

The sum of winnings and losses of all player does not add up to zero and represents a possibility where everyone can win. In game theory, this refers to the situation when

Days such as public holidays or the weekend when business transactions do not take place. If a contract is due on a non-business day, it is usually processed on the first business

An illness that gives the insured, freedom to go outdoors.

1. General: An obligation that cannot be outsourced to a third party according to the terms of the contract. In the event that it is delegated, the second party reserves the right

A license that grants several licensees within the same industry, the same rights to an intellectual party at the same time or consecutively.

Obligations such as wages that have to be fulfilled, without worrying about interest accrual.

An asset or investment such as interest income from a fixed deposit, that generates additional income for a business, but is not a part of the operation of the business.

Costs such as the administration costs that are a non-contributing factor to the manufacturing cost of a product.

Natural resources such as gas, coal, etc that can be consumed only once and hence are irreplaceable. Currently, most of the energy resources that we use are non-renewable. The renewable resources are

A balance sheet based on the concept that equal value should be placed on a firm’s intellectual and physical assets. As such, it assigns an arbitary value to intellectual assets, intellectual capital

The classification of group industries into 20 sectors, which are further classified into 1,170 industries based on the establishment type. The identification is through the assignment of a 6 digit code. For