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An alphabetical listing of General terms and items. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

IMF   International Monetary Fund, the organization that industrialized nations have established to reduce trade barriers and stabilize currencies, especially those of less industrialized nations. Impaired Capital   A company's capital that is worth less than the par value of its stock. Impersonal Service At Customer's Site   This service usually involves working with the customer's property and seldom deals with factors that the customer deems confidential. Examples of this type of service would be: lawn service, typewriter repair, office cleaning, trucking service, etc. Impersonal Service At Servicer's Site   This service usually involves working with the customer's property and seldom deals with factors that the customer deems confidential. The service is traditionally provided at the servicer's enterprise. Examples of this type of service would be: auto mechanic, TV repair, etc. Impersonal Service, Volume   This type of service is usually designed such that the same service will satisfy the needs of all customers. It is often the case that the servicer and the customer never meet. Examples of this type of service would be: classified ads, storage lockers, money changers, etc. Import   A product or service brought into another country from its country of origin either for sale or for use in manufacturing. Incentive Program   An award or reward scheme designed to improve sales force or retail performance. Income Redistribution   A government policy that seeks to restrain increases in wages or prices by regulating the permitted level of increase. Income Statement   A financial document that shows how much money (revenue) came in and how much money (expense) was paid out. Income Tax   A tax levied directly on the income of a person or a company and paid to the local, state, or federal government. Indirect Channel   The selling and distribution of products to customers through intermediaries such as wholesalers, distributors, agents, dealers, or retailers. Indirect Cost   A fixed or overhead cost that cannot be attributed directly to the production of a particular item and is incurred even when there is no output. Industrial Espionage   Industrial espionage: The theft of trade secrets by the removal, copying or recording of confidential or valuable information in a company for use by a competitor. Industrial espionage is conducted for commercial purposes rather than national security purposes (espionage), and should be differentiated from competitive intelligence, which is the legal gathering of information by examining corporate publications, websites, patent filings and the like, to determine a corporation's activities. Industrial espionage describes covert activities, such as the theft of trade secrets, bribery, blackmail and technological surveillance. Industrial espionage is most commonly associated with technology-heavy industries, particularly the computer and auto sectors, in which a significant amount of money is spent on research and development (R&D) Inflation   A sustained increase in a country's general level of prices that devalues its currency, often caused by excess demand in the economy. Infomercial   A television or cinema commercial that includes helpful information about a product as well as advertising content. Initial Public Offering   The first instance of making particular shares available for sale to the public. Insolvency   The inability to pay debts when they become due. Insolvency will apply even if total assets exceed total liabilities, if those assets cannot be readily converted into cash to meet debts as they mature. Even then, insolvency may not necessarily mean business failure. Bankruptcy may be avoided through debt rescheduling or turnaround management. Installation Goods   Products requiring large and expensive capital investments that will have a long life. This could include homes, office buildings, manufacturing facilities, and other types of commercial facilities or equipment such as tractors, printing presses, cranes and robotic assembly line processors. Institutional Buyout - IBO   Institutional Buyout - IBO: When an institutional investor, such as a private equity firm or a venture capitalist firm, acquires a controlling interest in a separate company. Institutional buyouts are the opposite of management buyouts (MBO), in which a business's current management acquires a large part of the company. Typically, the investor in an IBO will look to dispose of its stake in the company within a certain time frame.  An institutional buyout can also involve instances where a private equity firm acquires a company and keeps the current management or hires new managers and gives them stakes in the business. In general, the private equity firm involved in the IBO will take charge in structuring and exiting the deal as well as hiring managers Insurance   An arrangement in which individuals or companies pay another company to guarantee them compensation if they suffer loss resulting from risks such as fire, theft, or accidental damage. Back to top Intangible Assets   Non-physical assets such as patents, trademarks, a customer base, brand recognition of your products, etc. This is sometimes called goodwill. Intellectual Property   The ownership of rights to ideas, designs, and inventions, including copyrights, patents, and trademarks. Intellectual property is protected by law in most countries, and the World Intellectual Property Organization is responsible for harmonizing the law across different countries and promoting protection of intellectual property rights. Interest   The rate that a lender charges for the use of money that is a loan. Interest Rate   The amount of interest charged for borrowing a particular sum of money over a specified period of time. Internet   The vast collection in inter-connected networks that provide electronic mail and access to the World Wide Web. Inventory   A list of assets being held for sale, The stock of finished goods, raw materials, and work in progress held by a company. Inventory Turnover   A ratio for evaluating sales effectiveness. For a given accounting period divide total revenue for the product by the average retail value of the product inventory. Invest   To lay out money for any purpose from which a profit is expected. Investment   The spending money on stocks, shares, and other securities, or on assets such as plant and machinery. Invisible Exports   The profits, dividends, interest, and royalties received from selling a country's services abroad. Invisible Trade     Invisible Trade: Business transactions that occur with no exchange of tangible goods. Invisible trade involves the transfer of non-tangible goods and/or services, including customer service, intellectual property and patents. The items involved in invisible trade are associated with a value and can be exchanged for tangible goods.  By contrast, visible trade involves the exchange, or the import and export, of tangible goods. Examples of invisible trade include consulting, income from foreign investments, shipping services and tourism. Invisible trade represents an increasing percentage of world trade. Invoice   A document that a supplier sends to a customer detailing the cost of products or services supplied and requesting payment. 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