Cost of Production
/ˈkɒst əv prəˌdʌkʃən/
Definitions
- (n.) The total expense incurred in manufacturing or producing goods, including raw materials, labor, and overheads, relevant for valuing goods or establishing damages in commercial law.
The court considered the cost of production when assessing restitution for the injured party.
Forms
- cost of production
Related terms
See also
Commentary
In legal contexts, cost of production often serves as an objective metric for valuing goods or calculating damages; precise itemization of components is crucial for clarity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.