Initial Public Offering (IPO)

The first offering to the public of common stock, e. g. of a former privately held firm, or a portion of the common stock of a hitherto wholly-owned subsidiary.


The condition when one is unable to pay one’s debt obligations when due.

Insufficient Funds

When an account balance is inadequate to cover a cheque that has been written and presented for payment.


A contract whereby one party agrees to pay a sum to another party for a fee (premium) in the event that the latter suffers a particular loss. The person or firm that undertakes the risk is the insurer. The party desiring to be protected from loss is the insured party.

Intangible assets

Assets that cannot be touched. Examples are goodwill and patent rights.

Internal Rate of Return (IRR)

The rate of discount at which the net present value of an investment is zero.


A contractual arrangement whereby one party (the lessor) grants the other party (the lessee) the right to use an asset in return for periodic rental payments.

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