Business A to Z

Every trade has words it uses without explaining. In business the cost of not knowing one is real: some of them are ordinary jargon and some of them are a decision that can take a house.

Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.

Studying business? We write GCSE revision songs, and there is one for business studies. Listen to the revision playlist.

500 terms, showing 231–240 (page 24 of 50).

I

Insurance excess and underinsurance

Paying part of a claim yourself, and the penalty for insuring for too little.

Insurance for professional advice

Getting professional indemnity cover right: the retroactive date and run-off.

Intellectual property

Also called IP, Copyright, Trade mark

The rights in what you have created — and by default, some of it does not belong to you.

Interoperability

Whether your systems can work together. Ask before buying, not after.

Inventory management

Deciding how much stock to hold, and when to order more.

Invoice finance

Also called Factoring, Invoice discounting, Debtor finance

Borrowing against invoices you have raised but not been paid for. Solves a timing problem at a price.

Invoicing

The document asking to be paid. Legally specified, and often wrong.

IR35

Also called Off-payroll working, Intermediaries legislation

Rules deciding whether a contractor working through their own company is, in reality, an employee for tax purposes.

ISO standards

International management standards that buyers ask for by number.

IT asset register

A list of the devices, accounts and software the business relies on.

Ready when you are

Have a look round the demo, start a free trial with your own service in it, or ask us the awkward question first. Whichever you pick, the people who answer are the people who built it.