UK Business Jargon - Letter P
Index : A|B|C|D|E|F|G|H|I|J|K|L|M|N|O|P|Q|R|S|T|U|V|W|X|Y|Z
Parent company
This is where one company owns more than 50 per cent of the voting rights of another company which in turn becomes its subsidiary. It can also occur where the parent has less than 50 per cent but controls the board of directors of the subsidiary company having the power to appoint and remove directors without referring to other shareholders.
Partnership
A partnership is an agreement between two or more people to take joint responsibility for running a business. They share both the profits and the risks. Business carried out by two or more people where each is jointly liable for the debts of the business.
PAYE
Scheme set up by businesses to pay income tax and National Insurance contributions to the Inland Revenue from employees earnings. The collection system for the basic income tax of employees.
Phishing
Term used to describe the use of bogus e-mails and websites to trick the user into supplying confidential or personal information such as bank account numbers, PINs or passwords.
PLC
Public limited company.
POP3 Post Office Protocol.
An email protocol that allows you to pick up your mail from anywhere on the Net, even if you're connected to the internet on someone elses connection.
Premium
The consideration paid for a contract of insurance, often paid monthly, quarterly or annually.
Primary research
Gathering information from first hand sources such as interviews and questionnaires.
Private companies
Private companies have "Ltd" after the company name. They cannot offer to sell shares to the public and so cannot be listed on the stock exchange. Have no minimum or maximum capital but can be limited by shares or guarantee.
Product
Products are things you buy or sell and often used to mean both actual items or services.
Product life cycle
The growth and decline that a product goes through from the start to the end of its life.
Profit
Profit is the difference between money earned from sales and the costs of making the product.
Profit and loss account
Profit and loss account (P+L) shows all the revenue or turnover and all the expenditure which eventually leads either a profit or a loss. A statement of income received during a given period and the costs incurred to generate that income. It includes sales, costs, overheads, interest charges, and a provision for tax and dividends.
Promotion
Promotion involves any kind of advertising or incentive that encourages customers to buy a product.
Proxy
A person acting on behalf of another for a specific purpose, or the form used to make such an appointment. In a company a shareholder can appoint a proxy to attend a meeting and vote on their behalf.
Proxy (Server)
A computer (server) that sits between a client application (for example, a web browser) and a real server. The proxy intercepts all requests to the real server to see if it can fulfil the requests itself. If not, it forwards the request to the real server.
Public liability insurance
Insurance that covers against any claims for injury or damage by members of the public to them or their property by you or your business.
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