Being able to use another person’s intellectual property for no fee.

The investigation of why a component has failed.

The seating arrangement or a discussion where all people are peers.

A software or hardware device capable of directing traffic of data between networks. See also hub, gateway, bridge.

An abreviation of the French term ‘responde si’l vous plait’ meaning ‘please reply’.

The placement of an ad where it is left up to the publisher to place the ad.

A term in newspaper advertising where the colour used for ads is the same as the print colour used for non-advertising material.

The working out of the best route for cost effective distribution that will minimise any distances travelled with minimal stopovers along the way.

The completion of one cycle, route, process or circuit.

A process in deveolping products where the stages overlap instead of being defined.

The predominance that is absolute of an ordinary law over every citizen regardless of that citizens power.

The projected profit of a company is studied in order to make next years investment decisions.

Economics Nobel Prize winner for research into transaction costs and right to property.

A cheque that is returned after it has been dishonoured by the bank.

1. The time needed to finish one run. 2. The period time that an item is worked on.

An incentive plan for workers to save costs based on a formula relating labour costs to a share of cost of production.

Any m erchandise that has been sold and is then returned to the place of purchase.

The main cause for faults or failures even if more causes are evident that began with the initial cause.

A chart used for quality control to determine if the long run average of a process is changing. A run diagram or tier chart.

Liablity insurance held by the policy holders.All policy holders will be in the same business and exposed to the same level of risks.