Implied Agency occurs when the words and actions of the parties indicate that there is an agency relationship, even if no formal agreement has been made.
Rapport refers to an environment of harmony, consonance, agreement, or accord achieved through activities that encourage mutual understanding and trust. It is especially critical in business relationships where effective communication and positive interactions are key to success.
Relationship capital refers to the value created by a business's relationships with external parties, such as customers, suppliers, and partners. This concept is a subcomponent of intellectual capital, focusing on the trust, loyalty, and long-term connections that can enhance business performance.
A manufacturer's discount offered to a retailer or wholesaler for buying large quantities of merchandise, encouraging bulk purchasing and long-term business relationships.
