Term of the Day

cooperative

Firm owned, controlled, and operated by a group of users for their ownbenefit. Each member contributes equity capital, and shares in the control of the firm on the basis of one-member, one-vote principle (and not in proportion to his or her equity contribution).
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Usage Example
Despite contributing more equity to the cooperative than other members, Bill gets one vote during any decision making process just like the other members.
Term of the Day

identity theft

Obtaining a person's personal and financial information through criminalmeans. A thief uses this information for illegal purposes, such as tomakepurchases using the victim's name. Thieves can find information through discarded credit card or bank statements that are not destroyed, and can find the information online in customer databases.
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Usage Example
It is important to shred all important financial and personal documents after use to help prevent becoming a victim of identity theft.