Glossary – L to P

L

Letter of Offer (LOO)

A document that confirms approved funding from the Government of Canada, through Industry Canada’s ABC program for a particular business opportunity or project. It sets out the conditions for the financial assistance that an applicant has been approved to receive. ABC sometimes refers to this as "your contract."

Liquidity

The percentage of an enterprise's assets that can be quickly converted into cash.

M

Marketing

The act of promoting the services or products offered by your business. Examples of marketing tactics include: website development, trade-show participation, brochure/pamphlet development, magazine or newspaper advertising, etc.

N

National Aboriginal Economic Development Board (NAEDB)

A federal cabinet-appointed body comprised of Aboriginal business and academic leaders. The NAEDB reviews and provides recommendations on ABC proposals, which involve large program investments and provides advice to the Minister of Industry. The NAEDB also advises the Government of Canada on matters related to Aboriginal economic and business development.

Non-cash asset

A non-physical asset such as a patent, a trademark, a customer base, or brand recognition of your products. Also called intangible asset.

O

Operating costs

In the context of ABC’s eligible project costs, operating costs are defined as those which, according to generally accepted accounting principles, would normally be considered a charge against income in the year in which they were incurred.

P

Partnership

A legal contract entered into by two or more persons in which each agrees to furnish a part of the capital and labour for a business enterprise, and by which each shares a fixed proportion of profits and losses.