glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Liability

1. Legal responsibility for something, especially costs or damages. 2. Anything for which somebody is responsible, especially a debt. 3. Something that holds somebody back or causes trouble. 4. Somebody who prevents a successful outcome or causes social embarrassment. 5. Likelihood or probability of something happening. 6. All debts and other financial obligations that appear on a balance sheet.

Andrew John Harrison

Leadership Advocate and Co-Founder of the Goldzone Group. I help leaders to master the new rules of leadership for the new economy. Over the past 30 years, I have visited more than 500 cities in 54 countries to explore, learn from, and help many of the world’s leading companies, leaders, and luminaries in science, technology, health, finance, and entrepreneurship.

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Licensing

Renting or leasing an intangible asset. It is a process of creating and managing contracts between the owner of the asset and a company or individual who wants to use the asset in association with a product, for an agreed period of time, within an agreed territory, for an agreed payment.

Andrew John Harrison

andrewjohnharrison.com/

Lie

1. An intentionally false statement. 2. Imposture; false belief. 3. Be deceptive. 4. To say something that is not true in a conscious effort to deceive. 5. To deliberately give a false statement or impression. 6. Something meant to deceive or mistakenly accepted as true.

Andrew John Harrison

andrewjohnharrison.com/

Lifeforce

1. The force or influence that gives something its vitality or strength. 2. The universal animating energy that is in all living things that is responsible for growth and evolution. 3. The creative force that is comprised of a number of different characteristics, components and qualtiies that can be measured by the effects they produce.

Andrew John Harrison

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Lifestyle Inflation

Increasing your spending when your income goes up. This phenomenon makes it perpetually difficult to get out of debt, save for retirement or meet financial goals. Lifestyle inflation tends to continue each time someone gets a raise, receives a bonus or an unexpected windfall, making it the primary cause of people getting stuck in the rat-race of working harder and harder just to pay the bills (because their bills grow in line with their income).

Andrew John Harrison

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Liquidity

1. The state of being liquid. 2. The quality of being readily convertible into cash: an investment with high liquidity. 3. Available cash or the capacity to obtain it on demand. 4. The ease with which an asset can be converted into money. Cash is liquid but shares in a company are less liquid because they must be sold in order to convert them into money. Assets such as property are even less liquid because they take longer to sell than shares.

Andrew John Harrison

andrewjohnharrison.com/