| Term | Definition |
|---|
| Derivative Lawsuit | A lawsuit brough by one or more shareholders in the name of the corporation. |
| Class Action, or Class Action Lawsuit | A lawsuit in which one person or a small group of people represent the interests of an entire class of people in litigation. |
| Fiduciary Duty | The duty to act in the best interests of another. |
| Business Judgment Rule | A legal rule that provides that a director will not be personally liable for a decision involving business judgment, provided the director made an informed decision and acted in good faith. |
| Swing Trading | A short-term trading strategy that involves the sale and purchase, or purchase and sale, of securities within a short period. |
| Overt Discrimination | A specific, observable action to discriminate against a person or class of persons. |
| Disparate Treatment | Unfavorable or unfair treatment of someone in comparison to other similar individuals. |
| Disparate Impact | Indirect discrimination against a group. |
| Wrongful Termination Lawsuit | A lawsuit that arises out of an employee claim that the employer has wrongfully discharged the employee. |
| At-will Employment | Employment for an indefinite duration that can be terminated by either party for whatever reason or no reason at all. |
| Hostile Work Environment | An environment that exists when an employee is subjected to harassment that is so severe or pervasive that it alters the conditions of his or her employment and creates an abusive working environment. |
| Corporate Goverance | The mechanisms and procedures that determine how corporations are run. |
| Agency Costs | The costs associated with managing the relationship between agent and principal. |
| Audit Committee | A board committee that, in conjunction with the corporation's external auditors, oversees preparation and dissemination of the corporation's financial statements. |
| Compensation Committee | A board committee that determines compensation arrangements for the CEO and other senior managers. |
| Nominations/Corporate Governance Committee | A board committee that recommends nominees for election to the board by the shareholders and, in many corporations, establishes corporate governance guidelines. |
| Mortality Rate | The death rate per 1,000 population. |
| Temporary Total Disability | A condition in which, for a limited time, the disabled person cannot engate in any productive activity. |
| Permanent Total Disability | A condition in which the disabled person is unable to engage in any productive work for the rest of his or her life. |
| Temporary Partial Disability | A condition in which, for a limited time, the disabled person cannot engagtte in all daily activities, but is only partially prevented from working. |
| Permanent Partial Disability | A condition in which the disabled person's range of activities is permanently limited, but the person can still perform many types of work. |
| Contingent Net Income Loss Exposure | A loss exposure for which the interruption of the organization's operations is conditional on another organization's ability to fulfill its duties. |
| Sales Value of Production | The value of what would have been produced if a manufacturing plant had continued its normal operations. |
| Extra Expenses | Expenses that an organization incurs in addition to ordinary expenses to mitigate the effects of a new income loss. |
| Expediting Expenses | Extra expenses incurred to hasten the return to norml operations after a net income loss. |
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