Glossary of Trade Terms

Packing list	A document prepared by the exporter showing the quantity and type of goods being shipped to the foreign customer.
Partnership	An unincorporated business operated by two or more people with a view to profit. Taxed like a sole proprietorship, debt liability risk to the partners is unlimited. In a limited partnership, one or more of the parties participate as a passive partner.
Patent	A right that entitles the patent holder, within the country which granted or recognizes the patent, to prevent all others for a set period of time from using, making or selling the subject matter of the patent.
Pro forma invoice	An invoice prepared by the exporter prior to shipping the goods, informing the buyer of the goods to be sent, their value, and other key specifications.