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

Category: P

PERMANENT RESIDENCE

The primary residence (home) of an entity, party, individual at a situated address.

PERSONAL COMMUNICATION SERVICES (PCS)

The array of mobile phone services that make use of smaller phones. Primarily used for incoming and outgoing calls, sending and receiving text messages, etc.

PERSONALIZATION

Adding personal references in any direct offer. Making use of customization techniques in order to exhibit a unique name/ quality on something.

PETER PRINCIPLE

A principle which states that as a person gets promoted to a better job, their effectiveness and productivity levels decrease. The Peter principle is named after Dr. Laurence J. Peter.

PHILADELPHIA FED SURVEY

A survey conducted in the district of the Philadelphia Federal Reserve. This survey is related to the improvement of the outlook of any business, and how the manufacturing industry is performing.

PHOTOVOLTIC CELL

A photovoltaic cell is a cell that has the ability to convert natural, or synthetic light in to electricity. It is commonly referred to as a solar cell.

PIECE GOODS

Items that are sold as units with a set of specified dimensions. Examples of piece goods include sized bed sheets, carpets, table cloths, etc.

PIN COMPATIBLE

A memory chip or any other electronic part, which is placed inside a computer. Being ‘pin compatible’ means to have the similar number of pins so that the chip can be inserted

PLAIN LANGUAGE

Simple, honest and directed language, used primarily in writing as well as in general speech.

PLAT

A plan created of a certain building, area, streets, etc.

PLUS

An increase on the balance sheet due to positive income.

POINT OF SALE TERMINAL

An electronic device that comes in handy when retail payments have to be made. The POS Terminal can be charged throuhg the bank account, debit cards and other msart cards.

POLLUTANT PATHWAYS

A channel through which pollutants within a building might be excreted out, such as waterways, etc.

POLYSTYRENE (PS)

A plastic that has a very smooth surface, and breaks easily when external force is applied on it.

PORTAL

Any website that acts as an opening to a certain topic of interest or industry. Portals generally include four services, email services, customized informational content for the user as well as links

POSITIONING STATEMENT

An express statement which is generally written in order to give a clear outline of the goals that are to be achieved through a positioning strategy. The statement defines how a firm

POSTERIOR PROBABILITY

The amount of chance of an occurring event, which generally changes with the happening of new events. The posterior probabilty is commonly applied in finance in order to predict the fall or

POUR POINT

The lowest temperature at which any liquid will remain in its liquid form.

PRE-BID SHOPPING

Negotiations and discussions carried out between the contractor and the client, before the tender has been awarded. Generally done in order to get a lower price rate.

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