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

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.

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.

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