Pre-Money Valuation The Valuation of a company immediately before a new round of Equity For early stage companies, Valuation is difficult to assess because of the lack of trading history. Factors such as the nature of the business concept,... read more
Preference Shares Shares which attract a fixed annual dividend which must be paid before any dividends are declared on other classes of share (such as Preferred Shares and Ordinary Shares). Preference Shares also rank ahead of other share cla... read more
Preferred Shares A type of equity security that has certain rights over and above those of Ordinary Shares. These rights may include Liquidation Preference, Conversion Rights, Redemption, Anti-Dilution Adjustment, the right to appo... read more
Pro Rata In relation to shares, a shareholder’s proportionate allocation of new shares or transferring shares, or of dividends, capital or sale proceeds, based on the total number of shares it holds as a proportion of the total number of shares i... read more
Profit and Loss Account A financial statement setting out a company’s net profit or loss over a given period. ... read more
Proof of Concept A demonstration of the feasibility of a concept or idea that a start-up business is based on. ... read more
Property Improvement Plan A document setting out the refurbishment required to a property before it will meet the standards of a particular brand. ... read more
Property Management System The main computer system used by a hotel to record guest information etc that includes the reservation and billing system. ... read more
Protected Area See Radius Restriction ... read more
PTEB Payroll Taxes and Employee Benefits. ... read more

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