Glossary

P&L a.k.a. Profit and Loss

A profit and loss statement, or "P&L", shows how much a company has spent and earned during a specific period.

Pari passu

In law, pari passu means ranking equally and without preference.

Permitted transfers and permitted transferees

Under a company's articles of association, it may be possible for shareholders to transfer shares to close family members and/or family trusts; usually, for tax purposes.

Personal guarantee a.k.a. PG

A Personal Guarantee is a legal promise between (usually) a lender and the borrower stating that an individual behind the borrower is jointly responsible for paying back the loan.

PG a.k.a. Personal guarantee

A Personal Guarantee is a legal promise between (usually) a lender and the borrower stating that an individual behind the borrower is jointly responsible for paying back the loan.

Pitch

A pitch is a short oral presentation giving potential clients or investors a summary of an business. The pitch aims to provide information on the company and encourage audience interest in its business.

Pitch deck

A pitch deck is a printed presentation giving potential clients or investors a summary of an entrepreneur's business. The pitch deck aims to provide information on the company and encourage audience interest in its business.

PMV a.k.a. Pre-money valuation

A pre-money valuation is how much a business is worth before it receives any new external funding.

Poll

A procedure used at a general meeting of a company under which every voting shareholder has one vote for every share held. This procedure is commonly used where it is not possible to obtain a clear result by voting solely on a show of hands.

Post money valuation

A post-money valuation is a business's estimated worth after receiving external funding. See also: Pre-money valuation

Pre-emption rights

A right of first refusal for existing shareholders on the issue of new shares.

Pre-money valuation a.k.a. PMV

A pre-money valuation is how much a business is worth before it receives any new external funding. See also: Post money valuation

Pre-seed investment

Pre-seed investment is an investment that's given to a company before it has a product fit for market and any profit.

Private Equity

Private equity is a financing type where private money - from individuals, or institutions that are investing their clients' money - is invested in a business.

Product Market Fit

A product-market fit means there's a customer need for your product.

Profit and Loss a.k.a. P&L

A profit and loss statement, or "P&L", shows how much a company has spent and earned during a specific period.

Proxy

A person who is formally appointed to cast the votes of another shareholder.