What Is a Business Guarantee? The term “business guarantee” refers to credit cards in which the business itself—rather than its individual owners or employees—is responsible for repaying the debts incurred. Business guarantees are commonly when businesses issue company credit cards to their employees. When applying for such cards, the credit card company will first evaluate
What Is Business Insurance? Business insurance coverage protects businesses from losses due to events that may occur during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability and employee-related risks. Companies evaluate their insurance needs based on potential risks, which can vary depending on the
What Is Business Intelligence (BI)? Business intelligence (BI) refers to the procedural and technical infrastructure that collects, stores, and analyzes the data produced by a company’s activities. BI is a broad term that encompasses data mining, process analysis, performance benchmarking, and descriptive analytics. BI parses all the data generated by a business and presents easy-to-digest reports
What Is a Business Interest Expense? A business interest expense is the cost of interest that is charged on business loans used to maintain operations. Business interest expenses may be deductible as an ordinary business expense for certain businesses. Key Takeaways A business interest expense is the cost of interest on a business loan used
What Is Business Interruption Insurance? Business interruption insurance is insurance coverage that replaces business income lost in a disaster. The event could be, for example, a fire or a natural disaster. Business interruption insurance is not sold as a separate policy but is either added to a property/casualty policy or included in a comprehensive package
What Is the Business Judgment Rule? The Business Judgment Rule is a legal doctrine that helps to guard a corporation’s board of directors (B of D) against frivolous legal allegations about the way it conducts business. A legal staple in common law countries, the rule states that boards are presumed to act in “good faith”—that is
What Is Business Liability Insurance? Business liability insurance protects the financial interests of companies and business owners in the event that they face formal lawsuits or any third-party claims. Such policies cover any direct financial liabilities incurred, as well as any legal defense expenses. The three main types of business liability insurance are: General liability insuranceProfessional liability
What Is Business Logic Business logic is the custom rules or algorithms that handle the exchange of information between a database and user interface. Business logic is essentially the part of a computer program that contains the information (in the form of business rules) that defines or constrains how a business operates. Such business rules are operational policies that are usually
Investopedia / Laura Porter What Is a Business Model? The term business model refers to a company’s plan for making a profit. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. Business models are important for both new and established businesses. They help new, developing
What Is the Business and Personal Property Coverage Form (BPPCF)? The business and personal property coverage form (BPPCF) is a form that defines the aspect of a commercial insurance policy that insures against accidental damage to owned buildings, owned business personal property and non-owned business personal property. Understanding the Business and Personal Property Coverage Form
