VAR (Value Added Reseller).
A company that modifies or improves a system in some way and then resells it. A VAR might, for example, integrate a software application with its clients´ other systems or it might buy hardware components and build complete systems.

Venture Capital.
Money used to support new or unusual commercial undertakings; equity, risk or speculative capital. This funding is provided to new or existing firms that exhibit above-average growth rates, a significant potential for market expansion and the need for additional financing for business maintenance or expansion.

Venture Capital Limited Partnership.
Investment vehicles organized to raise capital for start-up companies or those in the early process of developing products or services. The limited partners invest in the limited partnership to provide investment capital.

Vicarious Liability.
When a person is held legally responsible for the actions of another even though that person did not directly cause the harm. For example, employers are sometimes held vicariously liable for the damages caused by their employees.

Virus.
A self-replicating computer program that infects a PC without the user´s knowledge or permission. Most viruses are harmless, although some are very destructive.

Voicemail.
An automated service that answers phone calls and records incoming messages. Enhanced voicemail services add features such as personalized greetings, longer recording times and more saved messages.

WAN (Wide Area Network).
A communications network that covers a large geographic area, a WAN may be a public network such as the Internet or it may be a closed, proprietary network run by a corporation or government agency.

Warranty.
A guarantee about the performance of a product, or a promise to perform a specific act, such as repairing or replacing a defective or broken product.

Web Browser.
A program that allows an individual to view Web pages.

Web Host.
A service that operates Web servers for its clients and publishes their Web sites.

Web Page.
A page in a Web document. Unlike printed pages, a Web page may be just a few words long or it may include thousands of words, images and other content.

Web Server.
A computer that publishes a Web site on the Internet. It usually includes the Web server software, the appropriate software protocols such as TCP/IP, the Web site content and occasionally other software such as e-commerce or database applications. When the Web server receives a request from a Web client (or browser), it delivers the appropriate page or performs the requested task.

Wi-Fi.
Shorthand for “wireless fidelity,” this is a high-frequency wireless local area network. Wi-Fi can be used to connect to the internet wirelesly.

Workers´ Compensation Insurance.
Government-mandated insurance that covers a business´ financial obligations for its employees´ work-related injuries.

Workgroup.
Two or more networked computers that share files or other resources. A large network may consist of several smaller workgroups, each having different levels of access to various types of data.

Working Capital.
The difference between current assets and current liabilities. Working capital finances the cash conversion cycle of a business — the time it takes to convert raw materials to finished products to sell and receive cash.

Workstation.
Once applied to high-powered computers used for graphics processing, scientific applications or similar uses, this term is now increasingly used to describe ordinary PCs connected to a network.

World Wide Web (WWW).
An Internet service that links collections of documents, or Web sites, both internally and to other sites. In addition to formatted text, Web pages may include graphics, audio, video and other multimedia content.

Worm.
Small, usually destructive programs that replicate themselves on a computer´s memory or hard disk, often until the computer crashes or becomes unusable.

WYSIWYG (What You See is What You Get).
Used to describe any computer program that displays content as it will appear in its finished form. Many applications promise WYSIWYG features, but differences in output devices and screen displays make it nearly impossible to meet this goal all of the time.