Examlex
Becoming an expert in a given field (whether playing chess or the violin) takes about ten years of concentrated practice.
No Formal Agreement
A situation where parties engage in a transaction or activity without a legally binding contract.
Business for Profit
An organization or enterprise engaged in commercial, industrial, or professional activities with the aim of generating financial gain.
Tax Liability
The total amount of tax that an individual or organization is legally obligated to pay to a taxing authority.
Capital Contribution
The money or other assets given to a company by its owners or shareholders to support its operations and growth.
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