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
What Are Incorporeal Rights? Incorporeal rights are rights to property that can’t be seen or touched but are still enforceable by law. Generally, incorporeal rights pertain to intangible property such as copyrights, licenses, rights-of-way, and easements. Incorporeal rights are also known as intangible rights, and incorporeal property is also called intangible property. Key Takeaways Incorporeal
What Are Incoterms? To facilitate commerce around the world, the International Chamber of Commerce (ICC) publishes a set of Incoterms, officially known as international commercial terms. Globally recognized, Incoterms prevent confusion in foreign trade contracts by clarifying the obligations of buyers and sellers. Parties involved in domestic and international trade commonly use them as a kind of shorthand to
What is an Incremental Dividend? An incremental dividend is a series of repeated increases in the dividend a company pays on its common shares. Larger companies with significant cash flow tend to pay incremental dividends as a way to return value to shareholders. Regularly increasing the dividend is also a signal to investors that the
What Is Incremental Cost? Incremental cost is the total cost incurred due to an additional unit of product being produced. Incremental cost is calculated by analyzing the additional expenses involved in the production process, such as raw materials, for one additional unit of production. Understanding incremental costs can help companies boost production efficiency and profitability.
What Is Incremental Marketing? Incremental marketing is the gradual increase in advertising expenditures and product exposure over a period of time, based on benchmarks. Incremental marketing requires a company to break up a long-term marketing plan into smaller components and assign milestones that must be met before further marketing funds are committed. The success of
