1. P/E ratio: The relationship between a stock's price and its earnings per share. It is calculated by dividing the stock's price per share by earnings per share for a twelve month period. For instance, a stock selling for $25 a share and earning $5 a share is said to be selling at a P/E ratio of 5.
3. Pac-Man strategy: Takeover defense strategy in which the prospective acquiree retaliates against the acquirer's tender offer by launching its own tender offer for the other firm.
4. par-value stock: Stock that has a nominal value assigned to it in the corporation's charter and printed on the face of each share of stock.
5. parent company: A company that owns or maintains control over other companies, known as subsidiaries, which are themselves separate legal entities; control generally refers to more than 50 percent ownership of the stock of another company.
6. partnership agreement: A legal agreement between partners; it usually specifies, among other things, the capital contributions to be made by each partner, the ratios in which partnership earnings and losses will be distributed, the management responsibilities of the partners, and the partners' rights to transfer or sell their individual interests.
7. partnership: An association of two or more individuals or organizations to carry on economic activity.
8. patent: An exclusive right granted for 17 years by the federal government to manufacture and sell an invention.
9. payee: The person (entity) to whom payment on a note is to be made.
10. penny stock: U sed in the context of general equities. Stock that typically sells for less than $1 a share, although it may rise to as much as $10/share after the initial public offering, usually because of heavy promotion. All are traded OTC, many of them in the local markets of Denver , Vancouver , or Salt Lake City .
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