PY glossary terms

Browse full definitions for every PY term in the Amicus glossary.

Pyramid Scheme

/ˈpɪr.əˌmɪd skiːm/

Definitions

  1. (n.) A fraudulent business model that recruits members via a promise of payments for enrolling others into the scheme, rather than supplying investments or sale of products.
    The company was shut down by regulators for operating a pyramid scheme that deceived thousands.

Forms

  • pyramid scheme
  • pyramid schemes

Related terms

See also

Commentary

Legally, the key distinction from legitimate multi-level marketing is the emphasis on recruitment commissions over product sales.

Pyrotechnics

/ˌpaɪrəˈtɛknɪks/

Definitions

  1. (n.) The use and regulation of explosives, fireworks, or flammable substances in law, especially concerning safety, liability, and licensing.
    The city council implemented strict pyrotechnics regulations to prevent accidents during public celebrations.

Related terms

Commentary

In legal contexts, pyrotechnics often involves regulatory compliance and liability issues tied to the handling and use of explosive materials.

Glossary – PY Terms