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

ONLINE BROKER

This is a brokerage firm that only interacts with customers over the Internet, instead of using traditional, office-based meetings. Online brokers often charge lower fees and provide do-it-yourself resources for investors.

ONLINE CORPORATE REPUTATION

How a corporation is perceived by Internet users. This will often be determined in blogs, public forums and web articles. Reputation management services can influence online reputation by addressing negative comments and

ONLINE DATABASE

A web-based filing system used to store information or records, accessible by using web scripts. Use often requires a paid subscription.

ONLINE MEDIA

Photos, music or videos that are available on the internet for free or at a cost. These may or may not be copyrighted.

ONLINE SHOPPING

The purchase of products and services on the Internet. Online shopping has become increasingly popular, due to convenience (and often lower prices). Especially in the holiday season, online shopping saves an individual

ONLINE TRANSACTION PROCESSING (OLTP)

This is a computing system in which time-sensitive data related to a transaction is processed immediately. Data must always be kept current. This is usually found in online banking, control of inventories,

ON-SALE DATE

The date that publications are scheduled for newsstand delivery by the distributor. The on-sale date determines when the publication in question, based on its frequency, is due for submission.

ONSHORE

1. The country in which you legally reside (and whose courts have jurisdiction over you). 2. On dry land, not at sea.

ONSITE SALES METHOD

Sales technique delivered at the consumer?s home or work-place. Typically involves product samples and demonstrations.

ONTOLOGY

Branch of metaphysics concerned with the study of being and the nature of existence. Also describes the assumed components of a categorisation system, concept or theory.

OODA LOOP

A concept that sees decision making as the next logical step of a specific process. If a decision has been made, an action has to be taken.

OPAQUE FARE

A flight ticket purchased at a heavy discount without a flight time or flight number, to be used at the airline’s discretion.

OPARIN BUBBLE THEORY

The hypothesis, proposed by Aleksandr Oparin in 1924, that life originated spontaneously from non-living elements (e.g. methane, water vapor, hydrogen). Also known as abiogenesis theory.

OPEC BASKET

This is an average price that is calculated based on the production and exports of all oil-producing countries, used as a reference point for checking the overall state of the oil business

OPEN

This is the price for the first trade of a security in a trading session.

OPEN ACCESS

This is when an insured individual can see a different service provider without the need to obtain a referral.

OPEN ACCOUNT

1. Accounting: An account with an unpaid balance or one with a positive credit balance. 2. Commerce: The credit relationship that enables the buyer to pay on a deferred payment basis.

OPEN BID

1. Bids that are not sealed. 2. A bid in response to an open bid request during a bidding contest.

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This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.