Term coined by Maltese-born UK psychologist, Dr. Edward de Bono, in his 1970 book, ‘Lateral Thinking.’ Technique to generate Ideas and solve problems. New concepts-building looks for novel ways. Contrast logical, ‘vertical’

A pricing model that uses an assets ending value and calculates backwards to manage the fund.

Converting illegal funds into legal by absorbing it into legal commercial cash flow.

Company that involves itself in the business of law. Lawyers that work together under a specific firm name, may only focuses on certain kinds of law, deal with various general law cases.

Rules on agreements, oral and written, agency relationships, commercial paper, employment, and business organizations as a governing body of law.

Economic concept: Increase one production factor, such as the number of workers, for example, leaving other factors, such as machines and workspace, for example, as is, output will lessen as a ratio

Observation: Increasing production costs are an economic reality when a company changes its product line to take advantage of some economic opportunity. This is caused by inefficiencies in retooling and reallocating specialized

The rule showing the expected outcome or mean of an asset.

Economic concept that optimization brings an increase in returns from a manufacturing operation. A change in the proportion of production factors can push toward the optimum or away from it. An example

Biased judgment assuming that a small number of observations or data points can predict outcome from a larger sample population. Also refer to law of large numbers.

Statistical observation that any anomaly can be discovered by comparing different or larger samples if the samples from a large group of the test population trend to the group’s characteristics. Also refer

The collection of traditions, customs, statutes, usages, and laws of a country that apply to everyone, including the government, under the jurisdiction of its courts. Also refer to legal system.

Explaining how nature works by scientific generalizations. Arrived at by experimenting and/or observing or idealized descriptions.

Easygoing, loose, un-restricted. An expectation of discipline not tightly held, like a business dress code allowing jeans on Fridays.

Retail promotion scheme allowing the customer to leave a deposit for time-limited storage at the store of customer-picked items not fully purchased until the customer returns to pay-in-full. T

Two or more trusts in sequence where each sequential trust is the beneficiary of the prior trust.

Typically, polluted water as a landfill site runoff. Natural water sources are at risk if this is not collected.

Action of water soluble substances like calcium, fertilizers, or pesticides, dissolving in available water, typically rain, and washing out soil as a waste. Leached-out chemicals, known as leachites, are considered to be

Natural element as a heavy metal that endangers life. Proven to cause mental retardation, increased infections and cancer rates. Lead blunts the body’s defense mechanisms, the immune system, and collects in blood,

When a representative acts as leader of the board. Refer to presiding directory, residing director, and nonexecutive director.