Cliff vesting is a type of vesting schedule where employees become fully vested in their benefits or equity after completing a specific period of service.

Customer retention rate (CRR) is a metric that measures the percentage of customers a company retains over a specific period. It is crucial for assessing customer loyalty, the effectiveness of customer engagement strategies, and overall business health.

An escrow account is a financial arrangement where a third party holds and regulates the payment of funds required for two parties involved in a given transaction. This account ensures that the transaction is secure by keeping the funds safe until all terms of the agreement are met by both parties.

Operating expenses (OPEX) are the day-to-day expenses incurred by a business to maintain its operations and generate revenue. These expenses include costs such as salaries, rent, utilities, and office supplies.

Convertible preferred stock is a type of equity that offers investors the benefits of preferred dividends and the option to convert into a predetermined number of common shares.

The secondary market is a financial market where investors buy and sell securities they already own. Unlike the primary market, where new securities are issued and sold for the first time, the secondary market involves the trading of existing securities.

Freelance work refers to a type of employment where individuals offer their services to clients on a project or contract basis, rather than being employed by a single company. Freelancers enjoy greater flexibility and independence, often working with multiple clients across various industries.

Work-for-hire refers to a situation where an employee or independent contractor creates work that is legally owned by the employer or the party commissioning the work.

A Virtual Data Room (VDR) is a secure online repository used for storing and sharing confidential documents and information.

Product-market fit is the stage where a startup’s product satisfies strong market demand. Achieving product-market fit means that customers are buying, using, and spreading the word about the product in a manner that indicates it meets their needs effectively.