An insurance policy on which no more premiums are required, and the policy is considered paid in full and still remains in force.

A share for which the shareholder has paid the full amount, as stated in the contract.

A small computer which fits into the palm of the hand.

Street slang now mainstream, referring to anything of very poor quality. Interestingly the term first appeared in the late 1800s, based on the word ‘knickers’ as an expression of contempt or ridicule.

In business, a loss which has occurred and appears in a company’s accounts, but has not yet been realised until a transaction has been made, e.g. the sale of an asset which has lost value.

A profit which has been made but has not yet been realised until a share, etc., has been sold.

Term first used by Thomas Kuhn in 1962 to describe when an important or significant change occurs in the perception of things. A sudden change in point of view.

A legal assistant who is not a qualified lawyer, but who is trained to work in or with the law.

A country’s separate market which deals in goods and currencies outside the country’s normal official government controls.

In certain countries, a company or organisation which is partially or fully owned and controlled by the government.