Patent Cliff
DefinitionThe term patent cliff refers to the phenomenon of patent expiration dates and an abrupt drop in sales that follows for a group of...
Passbook Loan
What is 'Passbook Loan' A personal loan extended to a savings-account holder by the custodial bank. Passbook loans use the balance of...
Participation Mortgage
DefinitionA participation mortgage or participating mortgage is a mortgage loan, or sometimes a group of them, in which two or more persons have fractional...
Pareto Improvement
What is Pareto Improvement
Pareto Improvement is defined as a change to a situation which results in one person becoming better off without anyone else...
Pairoff
What is 'Pairoff' 1. A purchase of securities to offset a previously transacted sale of the same security. 2. A...
Participating Policy
DefinitionA with-profits policy or participating policy is an insurance contract that participates in the profits of a life insurance company. The company is often...
Partially Convertible Debenture (PCD)
What is 'Partially Convertible Debenture - PCD' A type of convertible debenture, part of which will be redeemed by the issuing company...
Ponzi Scheme
DefinitionBy definition, a Ponzi scheme is a fraudulent investment that involves the payment of purported returns to existing investors from funds contributed by new...
Private Equity
DefinitionPrivate equity typically refers to investment funds organized as limited partnerships that are not publicly traded and whose investors are typically large institutional investors,...
Patent
What is a 'Patent' A patent is a government license that gives the holder exclusive rights to a process, design or new...