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

Category: P

POINT OF ORIGIN

The beginning point of something; the location from which a shipment is dispatched.

POLICY STATEMENT

A white paper which lists out all of the different ways that an organization will adopt in its daily affairs. Check policies and procedures.

POLYMER

A compound with a significantly large molecular weight, meaning it has a lot of simpler molecules of a simlar type. Examples of polymers include a lot of different common plastics.

PORCUPINE PROVISION

Methods adopted by large scale companies in order to secure themselves against a hostile takeover.

PORTFOLIO TURNOVER

The period of time it takes for any investment to get funded, until it is sold off or repaid.

POSITIVISM

A concept which states that only the knowledge of science is the one true knowledge of this world which can be perceived by an individual. It was established by Francis Bacon, a

POTENTIAL DOSE

A potential dose is the total amount of chemical that is present within any substance (liquid or solid) that has been swallowed by an individual.

PREDATORY LENDING

The use of several methods of lending, usually shady, which are used to gain unlawful benefits from borrowers.

PREFERRED BIDDER

A bidder who has been preferred over others, by a company who is holding an auction.

PACKET SWITCHED

A packet switched is a network based on electronic communications that is commonly responsible for the reception and sending of data. However, in such a network, the data is broken down in

PAIN FACTOR

The financial cost of fixing a problem that has been occuring for a consistent period of time, rather than choosing to bear it further. It is also known as the pain value.

PAPER MEASURES

There are three, commonly used measures; i) Ream= 500 sheets, ii) Bundle= 1,000 sheets and iii) Bale= 5,000 sheets.

PARALLEL ACTIVITIES

Activities or tasks that can be performed concurrently, or simultaneously. Performance of either task remains unaffected.

PART-TIME

Failing to meet the standards of full- time. Usually, this means to work for a fraction of the period of time that was actually allotted. For instance, if the job requirements are

PASSIVE MANAGEMENT

A type of management which does not get affected by any changes in the environment. Passive management adheres to a strict agenda.

PATENT DEFECT

A defect, or anomaly in any item that might cause it to malfunction. Can be found easily upon inspection.

PAY EQUITY

A level used to measure the extent to which the pay of an employee matches their own contributions and what they deserve. A higher pay equity means higher job satisfaction, and vice

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