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

BUSINESS DAY

A business day is considered every official working day of the week. Another common term is working day. Typically, these are the days between and including Monday to Friday and do not

BUSINESS DESIGN

An enterprise architecture (EA) is a rigorous description of the structure of an enterprise. EA describes the terminology, the composition of subsystems, and their relationships with the external environment, and the guiding

BUSINESS DRIVERS

The tasks, the information and the people that promote and support the goals of the enterprise. The requirements that describe what the business wants (e.g., more quality data, faster response to queries).

BUSINESS ENTITY

Companies law (or the law of business associations) is the field of law concerning companies and other business organizations. It is an establishment formed to carry on commercial enterprises. See, Business Entity

BUSINESS ENTITY CONCEPT

The concept that assumes that accounting applies to individual economic units and that each unit is separate and distinct from the persons who supply its assets.

BUSINESS ETIQUETTE

A code of behavior that delineates expectations for social behavior according to contemporary conventional norms within a society, social class, or group.

BUSINESS EXPENSES

Charges for business phone calls, faxes, and telegrams; emergency clothing, equipment, or supply purchases that are job related.

BUSINESS FAILURE

A company ceasing its operations following its inability to make a profit or to bring in enough revenue to cover its expenses. The final step is always that the business runs out

BUSINESS FORMAT FRANCHISING

The franchisee is licensed to use the franchisor’s products and trademark. The franchisee is also trained by the franchisor in the business model and format including selling, marketing, personnel procedures, inventory, and

BUSINESS FRANCHISE TAX

A franchise tax is charged by a state to corporations and other business entities (LLCs in some states).

BUSINESS FUNCTION

Something an enterprise does, or needs to do, in order to achieve its objectives.

BUSINESS GAME

Also called business simulation game) refers to simulation games that are used at an educational tool for teaching business.

BUSINESS GIFT

The cost of qualified business gifts is deductible to a maximum of $25 per year per client or customer. The $25 limit does not apply to promotional items costing $4 or less

BUSINESS IMPACT ANALYSIS (BIA)

A formal analysis of the effect on the business if a specific set of IT services are not available. It will also identify the minimum set of services that an organisation will

BUSINESS INCOME

The sum of all income and expenses which are the result of a business operated by the trust or estate.

BUSINESS INCUBATOR

Programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and

BUSINESS INFORMATION REPORT

The most widely used D&B Report for credit assessment, the BIR can provide information about a company’s history, payments, finances, operations, and more.

BUSINESS INTELLIGENCE (BI)

(BI) refers to computer-based techniques used in spotting, digging-out, and analyzing business data, such as sales revenue by products and/or departments or associated costs and incomes.

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