In manufacturing, etc., the cost of direct materials and labour required to make a product.

In finance, principal (the principal, or the principal sum/amount) refers to an amount of money loaned or borrowed. The term is used particularly when differentiating or clarifying an amount of money (loaned/borrowed/invested) excluding interest payments. Separately, more generally, in business the term ‘the principal’ refers to the owner of a business or brand, as distinct […]

Also called House Brand. A product which is owned by a retailer, and therefore has its own brand label on it, rather than the manufacturer or producer.

Called A Private Corporation in the US. A company whose shares are not offered to the general public on the open market.

Describes companies shares which are not available for investors to buy and sell on the Stock Market, because the company is unlisted.

The part of a country’s economy which is owned and run for profit by private businesses rather than being government controlled.

(UK/US English spelling) To change or sell a government controlled business or industry to privately owned companies.

A legal relationship between two parties in a contract.

Short for Pro Bono Publico (Latin for ‘The Public Good’). Work carried out in the public interest for no fee or compensation, e.g. by a lawyer.

An invoice prepared by a supplier describing goods, price, quantity, etc., which is sent to the buyer before the goods are supplied.