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

Category: S

SEASONALITY

A repetitive or periodic pattern that is predictable and occurs in a monthly or seasonal pattern.

SECOND WAVE

A progressive stage in the adoption of new technology where the emphaisi has shifted from the experimental stage to a result oriented stage.

SECONDARY MEANING

A consumer deducted meaning for a brand name or symbol that differs from its primary meaning. A term in copyright law where a common name or symbol must acquire a distinctive name

SECURED

A credit, obligation of loan that is guaranteed by a pledge of an item of gtreater or equal value on liquidation.

SEGREGATION OF DUTIES

1. A control policy where no person is given more than one area of responsibility. Called seperation of duties.2. Procedures and methods that are established as an internal check in order to

SELF-INCRIMINATION

A declaration or an act that occurs during an investigation where a person or witness incriminates themselves either expicitly or implicitly.

SEMICONDUCTOR

A compound or element with crytalline properties that is put between a conductor and the insulator for its ability to conduct an electric current.

SERIOUS OFFENSE

A violation of a law that is significant in effect and carries more than a 6 month punishment.

SERVICE MANAGEMENT

An integral system in supply chain management where the sales are connected to the customer. Its purpose is to minimise costs by lowwring inventory levels.

SETBACK

The distance from a road or kerb where nothing can be built upon.

SEVERED REALTY

Real property that is converted to personal property after it has been severed or cut and made into a movable object.

SHARK REPELLANT

The measures that are taken by a company to make it less attractive to hostile bids for take over.

SHIPMENT

The cargo that is transported under a single air way bill or bill of lading. Also known as a consignment.

SHIP’S PAPERS

The documents that are carried by a ship to allow it to meet all customs, immigration, health and safety requirements of its country of origin and all the ports it will call

SHORT FORM AUDIT REPORT

A standard US 2 paragraph report where the opening paragraph outlines what the auditor has completed and the following paragraph shows the findings from the audit.

SHOTGUN APPROACH

A strategy used in marketing where as wide an area as possible is aimed to be covered.

SICAV

A European investment fund where investor numbers determines the amount of capital in a fund.

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