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Glossary of terms

 Bull Market
An advancing stock market. The opposite of bear market.-
 Business Continuation Insurance
When a partner dies or is disabled the remaining partners are provided with the funds to purchase that partner’s interest in the firm. See also Key Employee Insurance.-
 Business cycle
Four basic stages of the U.S. economy as follows: Expansion--The economy strengthens as business activity accelerates. Peak--The economy overheats causing inflation and interest rates to rise. Recession--Higher interest rates lead to waning business activity and a contracting economy. Trough--Declining inflation and interest rates spark the beginnings of an economic rebound.-
 Business judgement rule
A judicial doctrine offering protection to corporate officers and directors from personal liability for their actions as long as they were taken in good faith and with reasonable care.-

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