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

BUSINESS ARCHITECTURE

A part of the an enterprise architecture related to architectural organization of business, and the documents and diagrams that describe that architectural organization. People who help build business architecture are known as

BUSINESS AREA

The company’s operations. Fixed assets and accounts receivable may be balanced in accounting using business areas.

BUSINESS AUTO COVERAGE FORM

The latest commercial Automobile Insurance coverage form, which may be written as a monoline policy or as part of a commercial package. This form has largely replaced the Business Auto Policy.

BUSINESS AUTOMOBILE POLICY

Protection for damages and liability on company and commercial automobiles. This replaces the business auto coverage form.

BUSINESS BONDAGE

A state of feeling inexorably intertwined or even imprisoned by your business. Business bondage is frequently experienced by new entrepreneurs and small-business owners.

BUSINESS CARD

A small card printed with one’s name, professional occupation, company position, business address, and other contact information.

BUSINESS CASE

Captures the reasoning for initiating a project or task. It is often presented in a well-structured written document, but may also sometimes come in the form of a short verbal argument or

BUSINESS CLASS

Also known as executive class or upper class, is a high quality second-tier travel class available on some commercial airlines and rail lines. Its level of accommodation is higher than economy class

BUSINESS CLIMATE

Environment of a given community that is relevant to the operation of a business; usually includes tax rates, attitudes of government toward business, and availability.

BUSINESS CLUSTER

A geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and globally.

BUSINESS COMBINATION

Consolidation or amalgamation is the act of merging many things into one. In business, it often refers to the mergers and acquisitions of many smaller companies into much larger ones.

BUSINESS COMBINATION STATUTE

These laws impose a moratorium on certain kinds of transactions (e.g., asset sales, mergers) between a large shareholder and the firm for a period usually ranging between three and five years after

BUSINESS CONTINUATION INSURANCE

Insurance designed to allow remaining partners or shareholders to purchase the portion of the company owned by a deceased partner or owner.

BUSINESS CONTINUITY

The activity performed by an organization to ensure that critical business functions will be available to customers, suppliers, regulators, and other entities that must have access to those functions.

BUSINESS CONTINUITY PLANNING (BCP)

Process of developing advance arrangements and procedures that enable an organization to respond to an event in such a manner that critical business functions continue with planned levels of interruption or essential

BUSINESS CONTINUITY PROGRAM

Identifies {an} organization’s exposure to internal and external threats and synthesizes hard and soft assets to provide effective prevention and recovery for the organization, whilst maintaining competitive advantage and value system integrity.

BUSINESS CRITICAL POINT

When a critical process or function has made it so that a business or firm is no longer able to continue.

BUSINESS CULTURE

Etiquette (pronounced [,eti’ket]) is a code of behavior that delineates expectations for social behavior according to contemporary conventional norms within a society, social class, or group.

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