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

CONCEPT TEST

A written presentation of an invention given to investors in hopes of convincing them that a product is worthy of their interest. Refer to concept optimization.

CONCEPTUAL COST

The estimated price to complete the development of a product based on the average of submitted bids.

CONCEPTUAL MODEL

A prototype of an organization showing how well the system meshes with other organizations and how it functions within its own structure.

CONCERN

An all-encompassing word that describes all for profit and non-profit organizations.

CONCERTED ACTION

Activity performed by parties for their benefit that have agreed to jointly hold responsibility for any outcome, positive or negative.

CONCESSIONAIRE

A business is set up in a location with the understanding of being the only firm offering a particular commodity.

CONCESSIONALITY

The difference in return for a lender between a below market rate loan – or soft loan – and a full market rate loan.

CONCESSIONALLY TAXED

Reduced tax rates such as exemptionsand deferments to boost interest in investing. Australian earnings in superannuation funds are taxed at a lower rate.

CONCESSIONARY FARE

Lower prices for members of the armed forces, vets, and other groups for airfare and hotel rooms.

CONCLUSORY

An inference that has no proof but is stated none the less.

CONCORD

An agreement among parties. AKA concordance. Refer to concordat.

CONCORDANCE

The listing of words in a work. The context is used and the meaning as well. AKA concord.

CONCOURSE

A terminal area where the plane is connected to the building.

CONCRETE

Material used by Romans to make things. Its made up of coars aggregate, fine aggregate, portland cement, and water. Air is also an element used in mixing the ingredients. Steel can be

CONCURRENT CAUSATION

Loss that occurs when two events or more come together. One event may be covered by insurance while another isn’t.

CONDENSATE

A light hydrocarbon that can be liquid at a normal temperature and pressure. Fuel oil and gas stabilize crude oils.

CONDENSED

A narrow version of a font that lets more letters fit in the space.

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