A theory which states that if a larger number of people, or agents are contributing to any result, the major part of the portion, around 80 percent is because of the minority, around 20 percent. Investigations and theories have stated that the sales of a firm were generated commonly by only 20 percent of the customers. The Pareto Principle is based after its founder, Vilfredo Federico Damaso Pareto, and is also known as the principle of imbalance. However, it is not a scientific process.
What is PARETO PRINCIPLE?
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
- Restitution Law – What it is, How to Avoid it, and Tips on Asking for It
- Should I Freeze My Credit?
- Living Will – The Pros & Cons You Need to Know
- What does it mean to be acquitted?
- Forming an LLC in Missouri
- Double Jeopardy Law
- How To Take Someone To Small Claims Court
- What is Jury Nullification?
- Guide to Court Ordered Mediation
- Workplace Retaliation – What It Is And How To Handle It
- What Is A Police Welfare Check?
- Best Way to Find Someone in Jail for Free
- How to Transfer a Car Title When The Owner Is Deceased
- How To Find A Name & Address Using A License Plate Number
- Best Way to Write a Professional Letter to a Judge
- How To Find An Inmate’s Release Date
- What Can You Do At 18 Legally?
- Signing a Letter on Someone Else’s Behalf
- How Do You Look up License Plate Numbers?
- Best Way To Run A Free Arrest Warrant Check