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Implied Contract

A contract whose terms and intentions are indicated by the actions f the parties to the contract and the surrounding circumstances.

Hold-Harmless Agreement (or Indemnity Agreement)

A contractual provision that obligates one of the parties to assume the legal liability of another party.

Injunction

A court-ordered equitable remedy requiring a party to act or refrain from acting.

Specific Performance

A court-ordered equitable remedy requiring a party to perform a certain act, often- but not always- as a result of breach of a contract.

Secured Creditor

A creditor who has a right to reclaim property for which a loan was extended.

Computer Crime

A criminal act using a computer to gain authorized or unauthorized access to steal, interrupt, or misuse computer system information.

Neural Network

A data analysis technique composed of three layers, including an input layer, a hidden layer with nonlinear functions, and an output layer, that is used for complex problems.

Immunity

A defense that, in certain instances, shields organizations or persons from liability.

Last Clear Chance Doctrine

A defense to negligence that holds the party who has the last clear chance to avoid harm and fails to do so solely responsible for the harm.

Sensor

A device that detects and measures stimuli in its environment

Defamation

A false written or oral statement that harms another's reputation.

Adherence

A fiduciary must act according to the plan documents and applicable law.Must follow the law and bring the plan document into compliance if plan is not in compliance with the law.

Special Damages

A form of compensatory damages that awards a sum of money for specific, identifiable expenses associated with the injured person's loss, such as medical expenses or lost wages.

Counterfeiting

A form of forgery that involves privately duplicating a country's currency or presenting it as genuine with knowledge that it is not.

Strategic Redeployment Plan

A four-stage plan designed to reinforce an organization's resiliency and allow it to survive and flourish following a crisis. Stages are emergency, alternate marketing, contingency production and communication.

Common Law

A judge interprets the facts of a case, examines precedents, makes a decision based o the facts of the current case. This system tends to be fact-intensive relying on the judge's reasoning for a final decision.

Waivers

A known right can be voluntarily relinquished through use of this.

Public International Law

A law that concerns the interrelation of nation states and that is governed by treaties and other international agreements.

Private International Law

A law that involves disputes between individuals or corporations in different countries.

Derivative Suit

A lawsuit brought by one or more shareholders in the name of the corporation. Any damages recovered go directly to the corporation.

Class Actions

A lawsuit in which one person or a group of people represents the interests of an entire class of people in litigation.

Business Judgment Rule

A legal rule that provides that a director will not be personally liable for a decision involving business judgment, provided the director made an informed decision and acted in good faith.

General Damages

A monetary award to compensate a victim for losses, such as pain and suffering, that does not involve specific, measurable expenses.

Internet of Things (IoT)

A network of objects that transmit data to and from each other without human interaction.

Punitive Damages (Exemplary Damages)

A payment awarded by a court to punish a defendant for a reckless, malicious, or deceitful act to deter similar conduct; the award need not bear any relation to a party's actual damages.

Compensatory Damages

A payment awarded by a court to reimburse a victim for actual harm.

Production Phase

A phase in the life of a system when the actual system is created.

Conceptual Phase

A phase in the life of a system when the basic purpose and preliminary design of the system are formulated.

Operational Phase

A phase in the life of a system when the system is implemented

Disposal Phase

A phase in the life of a system when the system reaches the end of its useful life and is disposed of.

Engineering Phase

A phase in the life of a system when the system's design is constructed and prototypes are tested.

Source Treatment

A procedure to modify the pollutants that have already been produced.

Source Reduction

A procedure to reduce pollutants that emanate from an already existing source.

Human Factors Engineering

A process that applies the knowledge of human behavior to design equipment people use on and off the job.

Biomechanics

A process that views people at work as special kinds of machines functioning within environments filled with other machines.

Reverse Engineering

A process used to discover trade secrets by taking them apart.

Criticality

A product of the risk priority number elements of consequence and occurrence used to determine the relative risk of a failure mode and effects analysis item.

Separation

A risk control technique that isolates loss exposures from one another to minimize the adverse effect of a single loss.

Loss Prevention

A risk control technique that reduces the frequency of a particular loss

Loss Reduction

A risk control technique that reduces the severity of a particular loss.

Diversification

A risk control technique that spreads loss exposures over numerous projects, products, markets, or regions.

Duplication

A risk control technique that uses backups, spares, or copies of critical property, information, or capabilities and keeps them in reserve.

Retention

A risk financing technique that involves assumption of risk in which gains and losses are retained within the organization to pay for the losses.

Privilege

A rule of law allowing a person to refuse to disclose confidential communications.

System Safety

A safety engineering technique also used as an approach to accident causation that considers the mutual effects of the interrelated elements of a system on one another throughout the system's life cycle.

Fire Division

A section of a structure so well protected that fire cannot spread from that section to another, or vise versa

Lidar

A sensor similar to radar that uses infrared light to detect nearby objects.

Overt discrimination

A specific observable action that discriminates a person or class of persons.

Windstorm

A storm consisting of violent wind capable of causing damage.

Classification Analysis

A supervised learning technique to segment data according to the values of known attributes to determine the value of a categorical target variable.

Sprinkler System

A system that can detect a fire and suppress it using water or other extinguishants.

Automatic Fire suppression System

A system that uses water, chemicals, carbon dioxide, and foam as extinguishing agents.

Root Cause Analysis (RCA)

A systematic, step-by-step procedure that uses the results of the other analysis techniques to identify the predominant cause of the accident so steps can be taken to prevent its recurrence.

Avoidance

A technique that involves ceasing or never undertaking an activity so that the possibility of future gains or losses occurring from that activity is eliminated.

Computer Vision

A technology that simulates human vision.

Risk Map

A template depicting the likelihood and potential impact/consequences of risks.

Work for Hire

A term that applies to two exceptions to the copyright ownership rule: works created in the course of the author's employment and works created on commission.

East Asian Law

A tradition of informal compromise, contrasted with individual parties' asserting their rights in negotiations, remains a strong characteristic to this countries' approach to contract disputes.

Modified Mercalli Intensity Scale

A twelve-level set of descriptions of an earthquake's effects at a specified location, near or far from the earthquake's epicenter.

Perimeter System

A type of burglar alarm system that is designed to signal an alarm whenever unauthorized entry is made into the building.

Wet Chemical System

A type of fire suppression in which wet chemicals suppress a grease- or oil-based fire.

Carbon Dioxide System

A type of fire suppression system in which carbon dioxide is stored as a liquid under pressure and is discharged as a gas through the pipes of the system to the fire site.

Dry Chemical System

A type of fire suppression system in which finely divided powders are distributed through pipes to nozzles positioned to allow for full distribution over the fire exposure area.

Gas Extinguishing System

A type of fire suppression that uses gas extinguishing agents, typically halon, carbon dioxide, or environmentally friendly agents, to disrupt the chemical reaction in a fire.

Heavy Timber Construction (Mill Construction)

A type of joisted masonry construction that is considered more fire resistant than typical joisted masonry construction.

Deluge Sprinkler System

A type of sprinkler system in which all sprinklers remain permanently open; when activated by a detection system, a deluge valve allows water into the system.

Tornado

A type of violent windstorm that consists of winds rotating at speeds of up to 300 miles per hour; a partial vacuum develops at the center of teh storm (vortex).

Servicemark

A way that an organization can differentiate its services from those of its competitors.

Wireless Sensor Network (WSN)

A wireless network consisting of individual sensors placed at various locations to exchange data.

Tort

A wrongful act or an omission, other than a crime or a breach of contract, that invades a legally protected right.

Job Safety Analysis (JSA)

An analysis that dissects a repetitive task, whether performed by a person or machine, to determine potential hazards if each action is not performed.

Criticality Analysis

An analysis that identifies the critical components of a system and ranks the severity of losing each component.

Change Analysis

An analysis that projects the effects a given system change is likely to have on an existing system.

Failure Mode and Effects Analysis (FMEA)

An analysis that reverses the direction of reasoning in fault tree analysis by starting with causes and branching out to consequences.

Fault Tree Analysis (FTA)

An analysis that takes a particular system failure and traces the events leading to the system failure backwards in time.

Energy Transfer Theory

An approach to accident causation that views accidents as energy that is released and that affects objects, including living things, in amounts or at rates that the objects cannot tolerate.

Technique of Operations Review (TOR)

An approach to accident causation that views the cause of accidents to be a result of management's shortcomings

Book Value (Net Depreciated Value)

An asset's historical cost minus accumulated depreciation.

Denial-of Service Attack

An attempt to overwhelm a computer system or network with excessive communications in order to deny users access.

Preaction Sprinkler System

An automatic fire sprinkler system with automatic and closed-type sprinklers connected to a piping system that contains air or nitrogen, with an additional fire detection system that serves the same area as the sprinklers.

Fender Wall

An extension of a fire wall through an outer wall.

Smart Product

An innovative item that uses sensors; wireless sensor networks; and data collection, transmission, and analysis to further enable the item to be faster, more useful, or otherwise improved.

Reputation

An intangible asset, a key determinant of future business prospects, resulting from a collection of perceptions and opinions, past and present, about an organization that resides in the consciousness of its stakeholders.

Fraud

An intentional misrepresentation resulting in harm to a person or an organization.

Indenture Level

An item's relative complexity within an assembly, system, or function.

Algorithm

An operational sequence used to solve mathematical problems and to create computer programs.

Alternative Site Model

An organization maintains a production site and an active backup site that functions as the primary site as needed.

Split Operations Model

An organization maintains two or more active sites that are geographically dispersed. Capacity at each site is sufficient to handle total output in the event of a disruption at either site.

Disparate Treatment

An unfavorable or unfair treatment of someone in comparison to how similar individuals are treated.

Loss Exposure

Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs.

Liability Loss

Any loss that a person or an organization sustains as a result of a claim or suit against that person or organization by someone seeking damages or some other remedy permitted by law.

Workplace Violence

Any type of violence or threat of violence that occurs in the work environment, including physical and verbal assaults, threats, coercion, and intimidation.

Wet Pipe Sprinkler System

Automatic fire sprinkler systems with pipes that always contain water under pressure, which is released immediately when a sprinkler opens.

Dry Pipe Sprinkler Systems

Automatic fire sprinkler systems with pipes that contain compressed air or another inert gas that holds a valve in the water line shut until an open sprinkler releases the gas and allows water to flow through the previously dry pipe to the sprinkler.

Fair Labor Standards Act (FLSA)

Establishes minimum wage and overtime rates and regulates the employment of children. Applies to employers with at least two employees engaged in interstate commerce and a business volume of over $500,00 per year.

Scandinavian Law

Evolved from a long-established history of customary law. Law by decree developed from other influences and codified historical business practices and statutes.In tort law, as distinguished from contracts, damages contain a punitive element beyond just and fair compensation.

Prudence

Execution of duties with the care, skill, and diligence of a person familiar with such matters.

Risk Priority Number (RPN)

The product of rankings for consequence, occurrence, and detection used to identify critical failure modes when assessing risk within a design or process.

Shoplifting

The removal of merchandise from a store by stealth without purchasing it.

Fire Safety

The risk control measures used to protect the people and property from the adverse effects of hostile fires.

Ergonomics

The science of designing work space and equipment based on the needs of the people who use the work space and equipment.

Pattern Matching

The science of finding matching patterns in data.

Effects Analysis

The study of a failure's consequences to determine a risk event's root cause(s).

Root Cause

The event or circumstance that directly leads to an occurrence.

Intellectual Property

The product of human intelligence that has economic value.

Agreement

A contract where one party makes an offer that the other party accepts. Both parties must mutually understand and agree on the critical terms of the contract.

Express Contract

A contract whose terms and intentions are explicitly stated.

Valid Contract

A contract that meets all of the requirements to be enforceable.

Voidable Contract

A contract that one of the parties can reject (avoid) based on some circumstance surrounding its execution.

Bailment Contract

A contract that requires the bailee to keep the property in safekeeping for a specific purpose and then to return the property to the bailor when the purpose has been fulfilled.

Standpipe and Hose System

A category of fire suppression equipment that consists of a water main with fire department hose connections inside a building; used in buildings with expansive floor areas and buildings more than four stories tall.

Pure Risk

A chance of loss or no loss, but no chance of gain.

Speculative Risk

A chance of loss, no loss, or gain.

Foam System

A chemical foam system that is used in outside areas to smother a fire.

Noncombustible Construction

A class of construction in which the exterior walls, floor, and roof of a building are constructed of, and supported by, metal, gypsum, or other noncombustible materials.

Fire-Resistive Construction

A class of construction that has exterior walls, floors, and roofs of masonry or other fire-resistive material with a fire-resistance rating of at least two hours.

Modified Fire-Resistive Construction

A class of construction that has exterior walls, floors, and roofs of masonry or other fire-resistive materials with a fire-resistance rating of one to two hours.

Frame Construction

A class of construction that has load-bearing components made of wood or other combustible materials such as brick or stone veneer.

Joisted Masonry Construction

A class of construction that has load-bearing exterior walls made of brick, adobe, concrete, gypsum, stone, tile, or similar materials; that has floors and roofs of combustible materials; and that has a fire-resistance rating of at least one hour.

Comparative Negligence

A common-law principle that requires both parties to a loss to share the financial burden of the bodily injury or property damage according to their respective degrees of fault.

Natural Language Processing

A component of text mining that uses linguistics to understand human speech or read documents.

Hazard

A condition that increases the frequency or severity of a loss.

Unenforceable Contract

A contract that is a valid contract but that because of a technical defect cannot be enforced.

Intentional Tort

Actions or omissions that the tortfeasor intended, although the consequences of such actions may not necessarily be intended.

Pillars for risk control for D & O liability exposure

Adhering to the Sarbanes-Oxley Public Company Reform and Investor Protection Act, Establishing the independence of a corporation's board of directors, providing opportunities for open communication, ensuring D & O fully understand charter and bylaws and securities and antitrust laws.

Civil Rights Act of 1991

Amends Title VII, depending on the size of the employer, authorizes damage awards for intentional gender and racial discrimination in employment and allows the right to demand a jury trial.

Domino Theory

An accident causation theory that presumes that accidents are the end result of a chain of accident factors.

Ultra Vires

An act of a corporation that exceeds its chartered powers.

Void Contract

An agreement that, despite the parties' intentions, never reaches contract status and is therefore not legally enforceable or binding.

Frame Action Design

Earthquake-resistant construction that relies on the resilience of steel or specialty designed reinforced concrete to absorb energy while undergoing considerable distortion and return to their original shapes.

Box Action Design

Earthquake-resistant construction, used in buildings under three stories tall, that integrates roof and floor diaphragms that can flex to transmit and distribute the forces an earthquake exerts on a structure.

Biometrics

Biological identification of an individual using anatomy or physiology.

Valuation Clause

Can be included in a contract for the transportation or bailment of property to specify the valuation of the property in the event it is lost, stolen, or damaged.

Socialist-Communist Law

Central idea is the state's interest over that of individuals.

French Civil Code of 1804

Consolidated the contrasting concepts of law by decree and law by custom. A magistrate is the final arbiter though can call on expert's to support an opinion.

German Code

Emphasis on the rights of people to enter into contracts freely. Requires a finding of fault on the part of a wrongdoer in a tort suit. Created a cradle-to-grave safety net as a part of a wide social compact.

Exculpatory Agreement

Contract provisions that enable a party to avoid liability for negligence or a wrongful act.

Legal Purpose

Contracts that must not be opposed to public policy.

Hold-Harmless Agreement

Contractual provisions by which one party (the indemnitor) agrees to assume the liability of a second party (the indemnitee)

Loss Mitigation

Disruption of operations implementation of risk controls and plans to reduce, minimize, or divert any loss

Contingency Production Stage

Downtime must be minimized during this stage and decisions made on what products and services will be provided depending on the facilities available and what technology and machinery are adequate. Consideration needs to be given to packaging adjustments and distribution methods.

Consideration

Each party gives up something of value.

Favorable Jurisdiction

Determination of which state's law will govern the contract's interpretation depends on where the parties are domiciled. If in the same state, that state's law applies.

Duty of Care

Directors and officers acting in good faith, in the best interest of the corporation and discharging their responsibilities with informed judgment in a manner of a similar person under similar circumstances.

Third-party Suppliers

Disruption in production from the supplier could undermine an organization's ability to generate its product and to satisfy customer demand.

Sole-source Supplier

Disruption in supply when only one supplier of goods is available will reduce or potentially shut down an organization's ability to produce and satisfy customer demand.

Loyalty

Fiduciary actions that are made in the best interest of the plan and all of its participants and beneficiaries.

Trade Fixtures

Fixtures and equipment that may be attached to a building during a tenant's occupancy, with the intention that they be removed when the tenant leaves.

Disaster Recovery

Focus on the actions that can be taken before and immediately following a disaster to ensure the safety of personnel and viability of future operations.

Consolidated Omnibus Budget Reconciliation Act (COBRA)

Gives workers and their families who lose their health benefits the right to choose to continue group health benefits for a limited period of time under certain circumstances.

Duty of Loyalty

Inability to use insider information for buying or trading of stock, who must disgorge back to the company any profits realized from the sale of corporation's stock within six months of purchase, and cannot usurp business opportunities that properly belong to the corporation.

Equal Employment Opportunity Commission

Independent commission that addresses workplace discrimination claims.

Supply Chain Opportunitites

Inventory and storage costs reduced by using just-in-time deliveries and work processes, improvements in technology to be leveraged to improve process efficiencies, supplier relationships improved to build positive relationships that strengthen communication and minimize potential supply chain disruptions.

Ignition Source

Item, substance, process, or event capable of causing a fire or explosion, such as open flames, sparks, or static electricity.

Liquidated Damages Provision

Limits the amount for which one party might otherwise be liable. Usually entered into before either party begins to perform under the contract.

Masonry Noncombustible Construction

Masonry construction or construction that includes exterior walls of fire-resistive construction with a fire-resistance rating of not less than one hour.

Limits of Liability

Measures used to anticipate legal claims and to limit an organization's legal responsibility.

End Effect

The consequence of a failure mode on the operation, function, or status of the highest indenture level.

Unilateral Notice

Notices that are posted which are physically apparent, expressed in a language the other party understands, and are reasonable in extent.

Text Mining

Obtaining information through language recognition.

Capacity to Contract

Parties must have the legal ability to enter into a contract. Must be of legal age, sane, or sober.

Hindu Law

Perhaps the oldest legal system in the world. Customs and laws have applied separately and distinctly to the members of four caste groups. The development of legislation, the judiciary, and the legal education have been affected by British rule. A statutory code of commercial, criminal, and civil procedure has replaced this country's law of contracts and property.

Next-Higher-Level Effect

The consequence of a failure mode on the operation, function, or status of the items in the indenture level immediately above the indenture level under analysis.

Communication Stage

Preserve or enhance stakeholders' trust and confidence in the organization and is often referred to as crisis communication. Safety and security of stakeholders, transparency in all management decisions, clarity and consistency in communication perceived lack of trust in management and the organization.

Solidification, Stabilization, and Encapsulation Processes

Processes that use additives to reduce the mobility of pollutants so that the waste meets land disposal requirements.

Internal Exposures and Vulnerabilities

Production location, production bottlenecks, information technology, infrastructure, strikes or other employment issues, machinery breakdown.

Americans with Disabilities Act

Prohibits discrimination against disabled persons and requires reasonable accommodations. Applies to employers of 15 or more employees.

Age Discrimination in Employment (ADEA)

Prohibits discrimination against those 40 and older. Applies to employers with 20 or more employees. Amended in 1990 by the Older Workers Benefit protection Act (OWBPA) which prohibits denying benefits to older employees.

Title VII of the Civil Rights Act of 1964

Prohibits discrimination based on race, color, religion, sex, or national origin, pregnancy, childbirth, or related medical conditions. Applies to all employers of 15 or more employees.

Tangible Property

Property that has a physical form.

Intangible Property

Property that has no physical form.

Add-on no fault plans

Require insurers to offer, or require all auto registrants to purchase, personal injury protection (PIP) insurance that provides specified first-party benefits for medical expenses, loss of income, or death resulting from auto accidents.

Family and Medical Leave Act (FMLA)

Requires all employers with 50 or more employees provide up to 12 weeks of unpaid leave in any 12 month period for child care or serious illness. Amended in 1998 to provide new military family leave entitlements.

Worker Adjustment and Retraining Notification Act (WARN)

Requires employers to provide notice 60 days in advance of covered plant closings and mass layoffs.

Kidnap and Ransom

Risk exposure organizations are likely to face if they operate in a high-risk overseas location that is not subject to security measures afforded in the U.S.

Residual Risk

Risk remaining after actions to alter the risk's likelihood or impact

Local Effect

The consequence of a failure mode on the operation, function, or status of the specific item or system level under analysis.

Functional Replacement Cost

The cost of replacing damaged property with similar property that performs the same function but might not be identical to the damaged property.

Replacement Cost

The cost to repair or replace property using new materials of like kind and quality with no deduction for depreciation.

Alternate Marketing Stage

Second stage of strategic redeployment that requires the organization to evaluate the impact of the disruption on the organization's reputation and market share. Set up a center of operations or data room where reliable data and business intelligence information are available for testing various scenarios.

Cascading Disruption

Seeming unrelated events that can cause major disruptions

Employee Retirement Income Security Act (ERISA)

Sets minimum standards for most voluntarily established pension (retirement) and benefit plans.

Big Data

Sets of data that are too large to be gathered and analyzed by traditional methods.

Emergency Stage or Disaster Recovery

Starts at the moment of disruption and constitutes the organization's immediate response.

Computer Sabotage

The deliberate and hostile destruction of hardware or software or the disruption of productive processes.

Arson

The deliberate setting of fire to property for a fraudulent or malicious purpose.

Business Resiliency Planning

The development of plans that prepare the organization to respond to disruptions.

Supply Chain Management

The development of sound relationships and diversity among suppliers

Fiduciary Duty

The duty to act in the best interests of another.

Nonderivative Suit

Suits against directors and officers by customers, competitors, employees, creditors, governmental entities or other persons outside the corporation. Stockholders who suffer harm from wrongful acts or omissions of directors and officers.

Real Property (realty)

Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land.

Implied warranties

Terms of a contract that can be inferred.

Artificial Intelligence (AI)

The ability of machines to simulate human intelligence.

Burglary

The act of breaking into or out of any closed building or space not open for business to commit another felony.

Forgery

The act of creating or presenting false documents or artwork as genuine in order to commit fraud.

Espionage

The act of obtaining confidential information through personal observation or mechanical, digital, or electronic techniques that circumvent efforts to protect the information's confidentiality.

Robbery

The act of taking tangible personal property from another person by force or by threat of force against that person or against another.

Internal (or private) Fire Protection

The action an organization takes to detect and suppress fires striking its own property.

External (or public) Fire Protection

The action fire departments and other public facilities take to safeguard the general public, including organizations, from hostile fire.

Causal Factors

The agents that directly result in one event causing another.

Economic Value

The amount that property is worth based on the ability of the property to produce income.

Disparate Impact

The application of personnel policies to all applicants or employees that have the effect of denying employment or advancement to members of protected classes.

Embezzlement

The fraudulent taking of money or other personal property by one to whom that property has been entrusted.

Smart Transportation

The integration of strategic vehicle management solutions with innovative technologies.

Laches

The legal term for waiting too long to assert a legal right.

Failure Mode

The manner in which a perceived or actual defect in an item, process, or design occurs.

Contingency Model

The organization develops an alternate way to maintain production, perhaps using manual processes.

Historical Cost

The original cost of a property

Bailor

The owner of the personal property in a bailment.

Bailee

The party temporarily possessing the personal property in a bailment.

Duty to Mitigate

The party that claims the other party breached the contract still has a duty to use good faith efforts to reduce the severity of its loss.

Earthquake Focus

The point on an earthquake fault line where the movement of the plates begins.

Epicenter

The point on the earth's surface directly above the earthquake focus.

Life Safety

The portion of fire safety that focuses on the minimum building design, construction, operation, and maintenance requirements necessary to assure occupants of a safe exit from the burning portion of the building.

Cyber Risk

The possibility that data will end up in the possession of a party who is not authorized to have that data and who can use it in a manner that is harmful to the individual or organization that is the subject of the data and/or the party that collected and stored the data.

Market Value

The price at which a particular piece of property could be sold on the open market by an unrelated buyer and seller.

Islamic Law

The primary law is the Shari'ah with a secondary system of jurisprudence called the fiqh. Two primary sources of law from which all legal principles derive are the Quar'an and the Sunnah.

Sentiment Analysis

The process of determining the opinion or emotion behind a selection of text.

Risk Management

The process of making and implementing decisions that enable an organization to optimize its level of risk

Trade Dress

The total image of a product or service that allows the product or service to be distinguished from its competition in the marketplace.

Infringement

The unauthorized use of an individual's intellectual property.

Telematics

The use of technological devices to transmit data via wireless communication and GPS tracking.

Terrorism

The use of violence, intimidation, or threats to influence others' behavior, often for a political purpose.

External Exposures and Vulnerabilities

Third-party suppliers, sole-source suppliers, single source supplier, change in demand, financial risks, geopolitical environment, natural or manmade catastrophes, merger of key supplier with a competitor.

Strict liability tort

Torts typically arise when an organization engages in certain activities that are considered ultrahazardous or that involve product liability cases.

Risk

Uncertainty about outcomes that can be either negative or positive

Business Continuity Plan

Understanding the business, conducting business impact analysis, performing risk assessment, developing continuity plan, implementing continuity plan, building BCM/BCP culture, maintaining and updating the plan.

Neglegence

Unintentional tort where the wrongdoer did not intend the action or the consequence

Assumption of Risk

When a plaintiff had a sufficient understanding of the risk and, as a reasonably prudent person, voluntarily accepted the risk, the plaintiff is considered to be in complete control of his or her actions.

Vandalism

Willful and malicious damage to or destruction of property.

Radio Frequency Identification (RFID) Tag

a transponder that communicates with an antenna and transceiver (together called the reader) using radio frequency identification.

Active Backup Model

the organization establishes a second site that includes all of the necessary production equipment housed at the primary site. Key staff can then transfer to the secondary site.