LONG TERM DEBT is all senior debt, including bonds, debentures, bank debt, mortgages, deferred portions of long term debt, and capital lease obligations. If a firm shows little to no long term debt over the years and/or their earning power could allow them to pay off their long term debt within 3-4 years, it is a good indicator of a sustainable competitive advantage.
ARTICLES OF INCORPORATION is the primary legal document of a corporation; they serve as a corporations constitution. The articles are filed with the state government to begin corporate existence. The articles contain basic information on the corporation as required by state law.
IPO (INITIAL PUBLIC OFFERING) is the first or primary offering of stock to the public.
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