Business dictionary

A tax imposed by the government on imported or exported goods. Its purposes typically include increasing state revenue, protecting domestic industries from foreign competition, or regulating the market. Duties can be ad valorem (based on the value of the goods) or specific (based on the quantity or volume of goods).

A non-binding document that outlines the basic terms and conditions of an investment or business agreement. It serves as a blueprint for the final, legally binding agreement and is typically used in financing rounds, mergers and acquisitions, joint ventures, or other business transactions. The term sheet lays the foundation for the deal, providing clarity on the key aspects such as valuation, ownership, and specific obligations of all parties involved. It helps ensure that both parties are aligned before the full, detailed contracts are drawn up.

Confidential business information that provides a company with a competitive advantage, such as formulas, processes, or methods, is protected as long as it remains confidential. Unlike patents, this protection does not have an expiration date. The information is safeguarded through nondisclosure agreements and other legal measures.

Protection of brand identifiers such as names, logos, symbols, and sounds distinguishes a company’s goods or services. This protection ensures that no other business can use the same or similar marks in a way that may cause confusion among consumers. Such protections are essential for brand recognition and maintaining reputation.

A type of bank account that allows for frequent and direct transactions, such as deposits, withdrawals, and transfers. These accounts are designed for daily financial operations and are useful for managing income and expenses. They typically provide immediate access to funds, without restrictions on the number of transactions. Current accounts usually do not offer high-interest rates, or they may offer very low interest compared to other types of deposit accounts.

The practice of openly sharing information about business operations and practices.

Short-term debt instruments issued by the government to raise funds. These bills are sold to investors at a discount to their face value and are redeemed at full face value upon maturity. The difference between the purchase price and the face value represents the investor’s profit, effectively serving as the interest

A framework that considers social, environmental, and financial factors in business performance.

A clear and compelling statement that defines what makes a product, service, or business distinct from competitors focuses on the unique benefits and value that only that particular offering provides. This statement addresses a specific need or solves a unique problem for customers. It is a central aspect of branding and marketing strategy, aiming to attract the target audience by highlighting why this specific choice is better than other available options.

The ability of urban areas to support their residents without compromising future generations’ ability to do the same.