BUSINESS LAW

FAIR AND REASONABLE PRICE A price that is fair to both parties, considering the agreed-upon conditions, promised quality, and timeliness of contract performance. “Fair and reasonable” price is subject to statutory and regulatory limitations. FAIR MARKET VALUE What a qualified buyer will pay for goods, services, or property. FEDERAL ACQUISITION REGULATION (FAR) The body of […]

EARNING POWER The demonstrated ability of a business to earn a profit, over time, while following good accounting practices. When a business shows a reasonable profit on invested capital after fully maintaining the business property, appropriately compensating its owner and employees, servicing its obligations, and fully recognizing its costs, the business may be said to […]

Guide for Small Businesses and Other ADA Information Government-wide disability information: www.disabilityinfo.gov WHAT IS THE ADA? The Americans with Disabilities Act (ADA) gives federal civil rights protections to individuals with disabilities similar to those provided to individuals on the basis of race, color, sex, national origin, age, and religion. It guarantees equal opportunity for individuals […]

GEOGRAPHIC TARGETING Specializing in serving the needs of customers in a particular area, thus restricting advertising and other marketing efforts to that area. GDP – Gross Domestic Product The most comprehensive single measure of aggregate economic output. Represents the market value of the total output of the goods and services produced by a nation’s economy. […]

A Guide to Understanding the Process and Avoiding the Pitfalls Introduction Depositions are conducted by parties to a legal action to obtain information that cannot as readily be learned through written records or general investigation. During a deposition, the lawyer for one side orally questions a witness on the opposing side. In addition to the […]

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