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

BUSINESS RISK EXCLUSION

A type of coverage that is often omitted from product liability insurance. Business risk occurs when a company manufactures or sells a product that does not meet the level of performance that

BUSINESS RULES

A Business rule is a statement that defines or constrains some aspect of the business. It is intended to assert business structure or to control or influence the behavior of the business.

BUSINESS SCENARIO

A business scenario is a view of a possible future external environment based on a set of assumptions about important uncertainties which face the business and which may affect organizational performance.

BUSINESS SCHOOL

A graduate school offering study leading to a degree of Master in Business Administration grad school, graduate school – a school in a university offering study leading to degrees beyond the bachelor’s

BUSINESS SECTOR

In economics, the business sector is a subset of the domestic economy excluding the economic activities of general government, private households, and nonprofit organizations serving individuals.

BUSINESS SERVICES

A business service is a service (such as email or electronic messaging) delivered to customers by business units that is supported by an IT infrastructure of configuration items (CI).

BUSINESS STARTS INDEX

A compilation of statistics published by Dun & Bradstreet that reports the number of businesses

BUSINESS STRUCTURE

A legally recognized organizational framework for conducting business in Canada including, but not limited to, a sole proprietorship, general or limited partnership or corporation.

BUSINESS SYSTEM

A combination of people and automated applications organized to meet a particular set of business objectives.

BUSINESS TAX

Many countries impose corporate tax or company tax on the income or capital of some types of legal entities. A similar tax may be imposed at state or lower levels. The taxes

BUSINESS TRUST

A legal trust set up for the purposes of business, but not necessarily one that is operated in The Commonwealth of Massachusetts. They may also be referred to as an unincorporated business

BUSINESS UNIT

Strategic Business Unit or SBU is understood as a business unit within the overall corporate identity which is distinguishable from other business because it serves a defined external market where management can

BUSINESS VALUATION

A process and a set of procedures used to estimate the economic value of an owner

BUSINESS VENTURE

Venture capital (VC) is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually

BUSINESS WIRE

A company that disseminates full-text news releases from thousands of companies and organizations worldwide to news media, financial markets, disclosure systems, investors, information web sites, databases and other audiences.

BUSINESS-TO-BUSINESS (B2B)

(B2B) describes commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer. Contrasting terms are business-to-consumer (B2C) and business-to-government (B2G).

BUSINESS-TO-BUSINESS (B2B) EXCHANGE

An electronic commerce exchange where networks are used to connect institutional buyers and sellers of ASSETS, goods or services. See also ALTERNATIVE TRADING SYSTEM, BUSINESSTOCONSUMER (B2C) EXCHANGE, ELECTRONIC COMMUNICATIONS NETWORK.

BUSINESS-TO-BUSINESS AGENCY (B2B AGENCY)

When a business needs their marketing and advertising services outsourced, these agents specialize in just that. Agencies in the B2B business contract their services on a paid per performance basis.

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