Pager.
A pocket-sized radio receiver used to receive callers´ phone numbers or short messages. Pagers emit an audible signal or vibrate (or both) when they are triggered.

Parallel Port.
An interface on a computer used for connecting printers and other devices. Most personal computers have at least one parallel port along with a serial port and special ports for a mouse and keyboard.

Parent Company.
A company that owns a majority stake (51 percent or more) of another company´s shares. It may have its own operations, or it may have been set up solely for the purpose of owning the operating company.

Partnership.
A legal relationship existing between two or more persons or entities contractually associated as joint principals in a business.

Patch.
An interim update to a computer program that fixes a particular problem.

Patent.
A patent secures to an inventor the exclusive right to make, use and sell an invention for a designated period of time. See information at www.uspto.gov.

Pay Period.
The frequency with which payroll is processed and paychecks are issued.

PDA (Personal Digital Assistant).
A class of small, highly portable computers, such as 3Com´s Palm Pilot. PDAs are typically used to store contact information, to access email and the Web and to run other business-related applications.

PDF (Portable Document Format).
Adobe Systems´ PDF file format delivers print-quality documents in downloadable form. Although PDF is a proprietary format, it is the de facto standard for delivering documents in which formatting is essential, such as business forms and schematics.

Peak Period.
In wireless telephones, the high-use period of the business day when wireless service providers charge their highest rates, typically 7 a.m. to 7 p.m.

Performance Review.
A mechanism for regular discussion and evaluation of an employee´s job performance.

Peripheral.
Any hardware device, such as a modem, printer or mouse that operates separately from a computer´s CPU.

Plug and Play.
A Microsoft/Intel standard that lets users install new components into their computer system and begin using them immediately. In order for Plug and Play to work, both the computer and the peripheral device must support the standard.

Point-of-Purchase (POP) Display.
Advertising material located in a retail store, usually placed near the checkout counter.

Port.
A connection for sending data into or out of a personal computer. Most printers, for example, plug into a computer´s parallel port. Also used to denote an address reserved for a particular use on an Internet server.

Power of Attorney.
A written authorization that lets one person act as an agent for another and to make binding decisions for the principal. A power of attorney can be limited to specific types of decisions or it can be general.

PPP (Point-to-Point Protocol).
A set of standards that lets computers connect to the Internet through a telephone connection. Most dial-up Internet connections are now based on PPP instead of the older, less reliable SLIP protocol.

Preferred Stock.
A class of stock with a liquidation preference before payment is made to the common stock holders. Preferred stock is the security most used by venture capital investors.

Press Kit.
A collection of publicity materials, including press releases and general company information, that is packaged and sent to media organizations.

Press Release.
A document that communicates information to the press. Press releases can publicize good news such as positive earnings and new product or service launches.

Prime Rate
Interest rate which is charged business borrowers having the highest credit ratings, for short term borrowing.

Privacy Policy - Internet.
The policy established by a Web site regarding the use of information obtained from users or viewers of the Web site.

Profit Sharing.
Employee incentives in which a company distributes or receives a portion of the business´s profits to employees.

Promotion.
Forms of communication that call attention to products and services, typically by adding extra value to the purchase. Includes temporary discounts, allowances, premium offers, coupons, contests and rebates.

Proprietorship.
The most common legal form of business ownership; about 85 percent of all small businesses are proprietorships. The liability of the owner is unlimited in this form of ownership.

Prospect.
A prospective customer who has the capacity to buy a product or service, but who has not yet decided to do so.

Prospecting.
The process by which salespeople determine whether or not a business or an individual could qualify as a potential customer.

Proxy.
A right given to an agent, most often in the context of shareholder voting in corporations.

Public Domain.
A copyright term that means a particular work is free for all to use without permission. Works in the public domain include those that were never copyrighted, those for which the copyright has expired and public documents.

Public-Key Encryption.
This popular form of Internet-based encryption includes two elements: a public key and a private key. An individual creates a public key and sends it to people with whom they exchange email. Recipients then use this public key to create coded messages for the sender. When someone receives a message encrypted with their public key, they use a secret private key to decode the message.

Publicity.
Information with news value used to promote a product, service or idea in the media.

Public Relations.
Communication with various sectors of the public to influence their attitudes and opinions in the interest of promoting a person, product or idea.

Purchase Order.
A form that contains pricing, quantity and other purchasing information.

Qualify.
The information-gathering process that salespeople use to determine a prospect´s buying potential.

Quick ratio: Liquidity ratio that focuses on the firm's most liquid assets by excluding inventory. Also known as the acid test ratio. Cash, marketable securities, and accounts receivable divided by current liabilities.

RAM (Random Access Memory).
Chips in a computer that store frequently used information, allowing the CPU to access it quickly. But data stored in RAM is erased when the computer is turned off. RAM is usually measured in megabytes of storage capacity.

Rentable Square Feet.
The total square feet available for lease. Typically, when landlords quote a price per square foot, they are talking about rentable square feet.

Return on Investment.
The amount of profit (return) based on the amount of resources (funds) used to produce it. Also, the ability of a given investment to earn a return for its use.

Resale Carrier.
A company that buys telephony services in bulk and sells them to others at a markup.

Retained earnings: Net profits kept to accumulate in a business after dividends are paid. 

Retainer.
A contract between a lawyer and a client in which the lawyer agrees to provide certain legal services for money. The agreement formalizes the lawyer-client relationship and explains the relative duties of lawyer and client toward one another.

Right of First Offer.
The right to be the first person offered a particular item (such as stock or real estate).

Right of First Refusal.
The right to be the first person allowed to purchase a certain item (such as stock or real estate) if it is ever offered for sale.

Roaming.
Using a wireless phone outside the home service area defined by the service provider. Roaming often incurs higher per-minute rates as well as daily access fees and long distance charges.

ROM (Read-only Memory).
Memory chips that permanently store data. A hardware or software vendor usually programs a computer´s ROM. The software necessary for a computer to start, including the BIOS, is usually stored in ROM.

Roth IRA.                                                                                                                                                                An individual retirement account (IRA) allowed under the tax law of the U.S.A.