Jargon Buster – I

Word
Meaning

Implied Terms of Employment Contract

As well as the oral and/or written terms you actually agree with your employee, an employment contract can also include implied terms. ... the employee's duty of honesty and loyal service. an implied duty of mutual trust and confidence between you and the employee.

Income statement

A financial statement that reports a company's financial performance over a specific accounting period.

Incorporation

Incorporation is the process of registering a new company with the Registrar of Companies (Companies House) under the Companies Act 2006. A company cannot operate until it is incorporated.

Inflation

Inflation is the rate of increase in prices for goods and services. There are a number of different measures of inflation in use. The most frequently quoted and most significant ones are the Consumer Prices Index (CPI) and the Retail Prices Index (RPI).

Insolvency

Your company will be considered to be insolvent under English law if it is unable to pay its debts.

Institutional Investors

An institutional investor is a term for entities which pool money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include banks, insurance companies, pensions, hedge funds, REITs, investment advisors, endowments, and mutual funds.

Intellectual Property

Intellectual Property (IP) is something that has been physically created such as artwork, literacy, music. It could be the name of your product, your company logo or publications you produce. Almost every business will have some form of Intellectual Property, which is a valuable asset and should be protected and exploited. You/the business own the Intellectual property if you have created it or bought the rights from the previous creator or owner.

IR35

Intermediaries legislation (IR35) applies where the work is contracted through a limited company, partnership or individual intermediary.

Interim Dividend

A distribution to shareholders when they have paid and declared before a company has determined a full years earnings.

ISO

ISO – International Organisation for Standardization is a non-governmental representative company that help set standards that help a company make things work.