What Is an Indirect Rollover? An indirect rollover is a transfer of money from a tax-deferred 401(k) plan to another tax-deferred retirement account. If the rollover is direct, the money is moved directly between accounts without its owner ever touching it. Conversely, with an indirect rollover, the funds are given to the employee directly for
What Is an Indirect Tax? An indirect tax is collected by one entity in the supply chain, such as a manufacturer or retailer, and paid to the government; however, the tax is passed onto the consumer by the manufacturer or retailer as part of the purchase price of a good or service. The consumer is ultimately
What Is an Individual Retirement Annuity? An individual retirement annuity is an investment vehicle that is sold by insurance companies and works similarly to an individual retirement account (IRA). Individual retirement annuities can provide a steady stream of income to retirees; however, there are limits as to how much can be contributed each year, and
An industrial bank is a state-chartered, financial institution, usually owned by a commercial firm, that is not regulated by a federal banking agency. Industrial banks accept customer deposits and provide loans for consumers and small businesses. Industrial banks are also known as industrial loan companies (ILCs). Industrial banks are only chartered by a few states;
What Is Industrial Espionage? The term industrial espionage refers to the illegal and unethical theft of business trade secrets for use by a competitor to achieve a competitive advantage. This activity is a covert practice often done by an insider or an employee who gains employment for the express purpose of spying and stealing information
What Is Industrialization? Industrialization is the process of transforming the economy of a nation or region from a focus on agriculture to a reliance on manufacturing. Mechanized methods of mass production are an essential component of this transition. The positive characteristics of industrialization include economic growth, a more efficient division of labor, and a growth
What Is Industrial Organization? Industrial organization is a field of economics dealing with the strategic behavior of firms, regulatory policy, antitrust policy and market competition. Industrial organization applies the economic theory of price to industries. Economists and other academics who study industrial organization seek to increase understanding of the methods by which industries operate, improve
What Was the Industrial Revolution? The Industrial Revolution was a period of major mechanization and innovation that began in Great Britain during the mid-18th century and early 19th century and later spread throughout much of the world. The British Industrial Revolution was dominated by the exploitation of coal and iron. The American Industrial Revolution, sometimes
What Is Incorporation? Incorporation is the legal process used to form a corporate entity or company. A corporation is the resulting legal entity that separates the firm’s assets and income from its owners and investors. Corporations can be created in nearly all countries in the world and are usually identified as such by the use
What Is an Incorporated Trustee? An incorporated trustee (also referred to as a “corporate trustee”) is a corporation, usually a trust company, which is named as the trustee of an account such as a private trust or another fiduciary account. Incorporated trustees stand in contrast to an individual person or “natural trustee,” who may also
