Business & IT Glossary - L

LAN A Local Area Network comprises two or more computers linked together within an office or building, enabling data to be shared or transferred between them.
Laptop A portable PC that is compact enough to be used while sitting on your lap and can can be powered by batteries so that it can be operated in any location.
LCD Liquid Crystal Display technology consists of two sheets of optical material, such as glass, sandwiching a layer of dense liquid, which emits light when an electric current is channelled through it. Lightweight and with a low energy requirement, LCD technology is often used in screens for battery operated portable or laptop PCs as well as in projectors for visual presentations.
Letterhead Paper used for business correspondence pre-printed with a company's contact details and logo.
Limited company A business incorporated as a company with limited liability.
Lineage advertising Advertisements in text with no graphics - often charged by the word.
Liquidity Describes the extent to which a company's assets can be readily converted into cash, eg to pay debts.
Logo A symbol designed to represent a business, often incorporating its name.
London Stock Exchange The London Stock Exchange provides services to enable the raising of capital and trading of shares. Many countries have their own stock exchanges and the London Stock Exchange is a world leader. Visit the London Stock Exchange web site at for further details.
Loss leader Goods sold deliberately at a loss in order to attract customers to buy other goods from the same business.