1. Thisoccurs when a businesses or company is owned by one person or one family. It is not owned by several people or a group of companies. 2. Proprietorship can also be

This involves the information that is held on customers and clients of a business. This information should not be told to anyone that doesn’t need to know it and never disclosed to

This is a theory that states that all of the liabilities as well as the assets of a company are the responsibilities of the owner of the business. No one else is

This is a proportion that is usually time based and is used to calculate an amount. For example, you may start to rent a property in the middle of the billing cycle

This is made when more than one policy covers one incident that requires payment of medical bills. These adjustments are made to a medical bill that is covered by more than one

Developed in 1979 by Amos Tversky and Daniel Kahneman. Most individuals will make a decision that will lead to a gain rather than a loss. Risks are put into 2 categories depending

A time in which a state or country has a low level of unemployment and a high level of sales and total incomes. If inflation is kept low, sales figures will increase

Also known as a Segregated Portfolio Company or SPC. A company will isolate its business dealings into seperate cells to insure they are kept safe from other issues that may adversely effect

This information can be relaesed at the patient’s request and not otherwise. It covers all of the information in a person’s file and is protected under HIPAA which keeps the information away

This is any property that is in the area serviced by a certain fire department. Each department will cover a different area and each risk in that particular area is protected by

This is where an agents territory is protected so that another agent is unable to encroach on the said agents teritory or area. This is guranteeed by the franchisee or company principle

This is insurance coverage that will cover any harm or damage that is done to a ship’s crew and cargo due to negligence. It is carried by the owner of the ship.

This is a level of rating that is given to the amount of fire protection in an area. The rate is decided upon by the Grading Schedule of Cities and Towns. The

This is carried out by a country in order to protect its own products against the importation of inferior and cheaper products. This is done by placing high duty tarrifs on goods

Also known as a restraining order that will protect an individual from another individuals actions. Often used in cases of spousal or partner abuse and restricts the actions of the party against

This is security option that gurantees the owner will receive a certain minimum amount of proceeds derived from sales above the exercise price. This is purchased when the owner has shares in

A trust created that will protect the assets of the trustor in their lifetime from the effect of the trustor declaring bankruptcy. The trustee is responsible for any interest earned by the

This is another party that is appointed to ensure that the benefactors wishes are being carried out as requested by the trustees. They don’t have alot of power but are able to

This is a model of the final product that is able to do eveything that the finished product will do. Usually made to show prospective sponsors a product and all of its

This is a plan for retirement that is made available for no charge to the individual. This free because it has been sponsored by an organisation.