EQUIPMENT TRUST CERTIFICATE Definition

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 EQUIPMENT TRUST CERTIFICATE is a bond that is secured by a first claim (lien) on certain equipment. The title to the equipment is held in trust until the bond is paid off.

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INDUSTRIAL ESPIONAGE or corporate espionage is espionage conducted for commercial purposes instead of national security purposes, e.g. spying on one's competitors to gain a competitive advantage.

NEGATIVE CONFIRMATION REQUEST, in accounting, in the negative form of accounts receivable confirmation asks the client's customer to respond only if the customer disagrees with the balance determined by the client. The positive form asks the customer to respond whether the customer agrees or disagrees with the client's receivable balance. The negative form is used when controls over receivables are strong and accounts receivable consists of many accounts with small balances. The positive form is used when controls are weak or there are fewer, but larger, accounts. See Positive Confirmation.

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