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

OPEN OPERATING SYSTEM

An operating system designed to work with a range of processors, making it flexible and inexpensive for users.

OPEN PROCEDURE

A bidding system that enables anyone to submit bids, in order to encourage competitive bidding.

OPEN COMPETITIVE BIDDING

A bidding contest that concludes with the opening of sealed bids in a public forum, enabling all interested parties to witness the bids.

OPEN CONFERENCE

Relating to public access and community development. Often involves an open source culture.

OPEN DISTRIBUTION

When the same products can be distributed and sold in a particular region by multiple vendors. This is the opposite of exclusive distribution.

OPEN ECONOMY

A market economy with few barriers to trade, where imports and exports make up a large portion of the GDP. This is a theoretical state, as all governments have some control over

OPEN BOOK MANAGEMENT (OBM)

The philosophy that a firm will succeed if all of the employees share finance and operations information. Four basic practises are necessary for this: 1. Employees must be appropriately trained. 2. Employees

OPEN ENROLLMENT PERIOD

A period of time in which individuals can openly choose an alternate insurance plan, without being re-assessed for insurability

OPEN ENTRY

The conspicuous entry of a non-occupant into a premises or property, usually with witnesses present.

OPEN JAW TICKET

A ticket that covers travel from the port of departure to one destination, and return travel to the port of departure from a different destination (e.g. Newcastle-Melbourne / Perth-Newcastle). The passenger is

OPEN INFLATION

The rise in the cost of products and services as a result of spending trends.

OPEN DEBIT

A debit that does not have an agent at the moment.

OPEN PERILS

Type of insurance that provides compensation for property damage caused by any hazards not specifically excluded by the policy.

OPEN ENDED QUESTION

A question that does not suggest any particular answers to the respondent. Open questions usually ask how, what, when, where or why, and require the respondent to answer in their own words.

OPEN PLAN

Derived from the work of American architect, Frank Lloyd Wright, and French architect, Le Corbusier, open plan spaces are partitioned with temporary screens and modular furniture, rather than walls and permanent fixtures.

OPEN POLICY

Cargo insurance that provides compensation for damage to or loss of goods that were carried in a specified vessel or by a specified company, within a specific period. According to the policy,

OPEN MOUTH OPERATIONS

Buying and selling of US Treasury Funds by the Federal Reserve, intended to affect inflation, monetary supply and interest rates. Such operations are rare, as the financial sector usually takes similar action

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