The terms used in business such Lifeboat,Lifestyle Business,Line Authority,Liquid assets,Liquidate etc.
This post explains about terms used in business such as Letter Of Indemnity , Liability,Liberalization,Lifeboat,Lifestyle Business,Line Authority,Liquid assets,Liquidate etc.These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
The terms used in business
Letter Of Indemnity - A document in which an individual, company, etc., guarantees to protect another from costs, liability, etc., as a result of certain actions which may be carried out.
Letter of Intent: A document agreement between a buyer and a seller used in connection with the acquisition of a company (The letter of intent describes the basic terms and conditions of the transaction between the buyer and the seller, including price, due diligence periods, exclusivity or noshops, and the basic conditions to closing the deal. Customarily presented before a definitive purchase agreement is entered into, the letter of intent provides a road map for the parties involved in the transaction.)
Leverage: a method of corporate funding in which a higher proportion of funds is raised through borrowing than share issue.
Liabilities - Debts which are owed to someone, obligations or responsibilities which are legally binding.
Liability - a financial obligation or amount owed.
Liability - a person or business deemed liable is subject to a legal obligation. A person/business that commits a wrong or breaks a contract or trust is said to be liable or responsible for it.
Liability insurance: Risk protection for actions for which a business is liable.
Liberalization - The process by which certain business activities become more market driven.
Libertarian/Libertine - A person who believes in the freedom of speech and thought, and that people should be able to do whatever - within reason - they wish with minimal interference from government. The words derive from the Latin root liber, meaning free, like the word liberty, meaning freedom.
License Agreement - A sales agreement in which a domestic company (the licensor) allows a foreign company (the licensee) to market its products in a foreign country in return for royalties, fees, or other forms of compensation.
License: a contractual arrangement, or a document representing this, in which one organization gives another the rights to produce, sell, or use something in return for payment.
Licensing: Licensing is a contractual arrangement in which the licensor’s patents, trademarks, copyrights, trade secrets, or other intellectual property may be sold or made available to a licensee for compensation that is negotiated in advance between the parties. This compensation, or royalties, may be a lump sum
Lien - A legal right to take and keep another persons property until a debt has been paid by the property owner.
Lien Search: A search of public records, usually conducted by an escrow company, to determine if a business has any outstanding liens for payment of some debt
Life Insurance:Life insurance is a contract by which the life insurance company known as an insurer, in consideration of regular payment of premiums (stated amount of money) for a certain period or till the end of the life of the insured whichever is earlier agrees to pay a given sum of money to the insured himself or to the legal or indicated heir on the occurrence of the stated event.
Life Tables - Also called Mortality Tables. Tables which show peoples life expectancy, depending on their age, lifestyle, etc., often used by insurance companies.
Lifeboat - An emergency loan offered to a company or bank which is in financial trouble.
Lifestyle Business - A business set up and run so as to fit with the wider life needs of the business owner(s) which might be called 'life balance', or happiness or wellbeing. Typically this will mean that the business can be established and operated with very simple, relatively small-scale, and easily manageable: infrastructure, overheads, inbound supply-chain (if any), premises (typically in a home), legal issues, administration products/services range, ambition, marketing and advertising, technology and ICT, staffing, and demands on workload, time, and generally work pressures. Given these criteria, certain types of businesses do not make naturally good lifestyle businesses, because they imply/require a more burdensome degree for one or a number of the features listed above. Businesses that do not naturally make good lifestyle businesses would be for example: manufacturing (other than boutique or 'hand-made' type products); warehousing and distribution; FMCG (fast-moving consumer goods - see FMCG in the acronyms page)
Lifestyle: A pattern of living that comprises an individual's activities, interests and opinions.
Lightning Strike - A sudden strike by workers, with little or no warning. These strikes are often short in duration and usually without official union backing.
Limited Company - In the UK, a company that has a name ending in 'Ltd.' The owners of these companies have limited liability if the company gets into debt.
Limited Flexibility Exchange Rate System - The International Monetary Fund’s name for an exchange rate system with a managed float.
Limited Liability - In law, the owners and/or shareholders of a limited company only lose the amount they have invested if the company gets into debt.
Limited liability - usually refers to limited companies where the owners' liability to pay the debts of the company is limited to the value of their shares. It can also apply to contracts where a valid limitation clause has been included in the terms.
Limited offer process (also known as a limited procurement method, limited tender or direct sourcing):A procurement method where the agency invites a supplier(s) of its choice to submit an offer in response to an approach to market.
Limited partnership: A legal partnership where some owners are allowed to assume responsibility only up to the amount invested.
Linchpin - The most important person or thing in a business or organisation.
Line Authority - In business, the power given to management allowing them to give orders and to control subordinates.
Line of credit - an agreement allowing a borrower the ability to withdraw money from an account up to an approved limit.
Liquid assets: financial assets that can be quickly converted to cash.
Liquidate - The closing down of a business by selling its assets to pay its debts.
Liquidated Damages - The fixed amount agreed upon by parties to a contract, to be paid to one party in the case of a breach of contract by the other party.
Liquidation - the formal breaking up of a company or partnership by realising (ie selling or transferring to pay a debt) the assets of the business. This usually happens when the business is insolvent, but a solvent business can be liquidated if it no longer wishes to continue trading for whatever reason.
Liquidation or Liquidating Value: The estimated value, net of liabilities, of a company based on the market value of its assets
Liquidity - how quickly assets can be converted into cash.
Liquidity: The ability of a business to meet its financial responsibilities. The degree of readiness with which assets can be converted into cash without loss.
List price / Prix catalogue :The manufacturer's recommended retail price for an item.
List Rental - The renting, from an organisation, of a mailing list which has potential customer names and addresses, for a one-off mailing.
Listing: A written engagement (contract) between a principal and an agent authorizing the agent to perform services for the principal involving the principal’s property (business) (Generally the services provided by the agent involve the proposed sale of the principal’s property or business. Also, the property or business listed by the agent is called a Listing.)
The above details describes about terms called in business such as Letter Of Indemnity , Liability,Liberalization,Lifeboat,Lifestyle Business,Line Authority,Liquid assets, Liquidate etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in overseas trade below this post.Terms used in trade such as Legal Entity,Legal Tender ,Legalese,Lemon,Letter Of Comfort,Letter of Credit etc
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