How to Concept Test Your Idea? Early in the idea evaluation phase, you should work diligently to concept test your business idea. This means questioning whether the business idea will make sense conceptually to the intended customer(s). It involves identifying the proposed value proposition of the product or service for the customer. If you product ...

What is the Homeowners Protection Act of 1998? The Homeowners Protection Act is a government regulation that came into force in 1998 as a measure to protect homeowners from the liability to pay for private mortgage insurance (PMI) when deemed unnecessary by law. The act also makes it obligatory for financiers to divulge to homeowners details about a...

What is the Allodial System? The allodial system is a legal right or claim of ownership of land applicable in many legal systems throughout the world. It allows someone to claim ownership of land through exclusive possession. What is Allodial Title?  The idea of allodial title allowed the holder and defender of the land to claim ownership rights tha...

What is Undue Influence? An individual is said to exercise an undue influence over another if he takes advantage of the relationship he has with the other individual or his position to influence their decisions.  Undue influence often occurs when there is inequity in power and status between parties. Generally it involves a situation in which one pa...

What is the Above Full-Employment Equilibrium? When an economy manufactures goods or products at higher economic rates than normal, it is regarded as above full-employment equilibrium. The gross domestic product (GDP) of an economy often reflects the normal rate at which goods or commodities are expected to be produced in an economy. When the rates ...

Overview of Criminal Law The chapter introduces the concept of criminal law and the procedures for enforcing those laws. It will explore the Constitutional authority of the government to pass criminal laws, the enforcement methods, and identifies specific types of criminal laws. It breaks down criminal conduct into the basic elements necessary to de...

What is a Quality Score in Web Marketing? Quality score is a rating for how Google measures the usefulness or relevance of your Pay-Per-Click advertisement on Googles search platform. Generally, the usefulness and relevance of your ad to those searching a particular term in Google is determined by examining the keywords used and the searchers reacti...

What is a Comfort Letter? A comfort letter is a written document that provides a level of assurance that an obligation will ultimately be met. In its traditional context, a comfort letter is given to organizations or persons of interest by external auditors regarding statutory audits, statements, and reports used in a prospectus. The comfort letter ...

How do you Assess the Situational Aspects when strategically planning a negotiation? Situational aspects of a negotiation represent any characteristic of the negotiation situation that are not personal to the negotiators or characteristic of the social climate between them.  The situational aspects are innumerable. Some common examples are discussed...

What are the Challenges of International Marketing?  International marketing is increasingly necessary and common given the increased interconnectivity between countries. As such, marketers face similar challenges in foreign markets as they face in local markets as well as many unique challenges of each market in which you do business.  Examples of ...