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Home Categories Business Essentials Elasticity is an economic measure of the sensitivity of one economic factor to a change in another. Emerging industry refers to companies that are formed around a new product or idea that is in the early stages of development. An employee buyout (EBO) is when an employer offers select employees a voluntary severance pay. An employment agency fee is paid by a company to an employment agency when it successfully finds a suitable employee with that employer. End-to-end refers to the provision of complex systems or services in a functional form after their development from start to finish. Enterprise Risk Management (ERM) is a company-wide strategy for identifying and preparing for hazards related to a company’s finances, operations, and objectives. A person who takes the risk of starting a new business is called an entrepreneur. Fair relief is granted by the court by requiring one party to either act or refrain from doing the act. Error and omission insurance is a form of professional liability insurance. A perpetual contract is a contract that automatically renews after the original expiration date.