Rozelle

Defining Limited Common Element.

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A defining limited common element is an element of a residential condominium or cooperative that is designated for the exclusive use of a specific group of unit owners, as defined in the condominium or cooperative’s governing documents. What is considered a common element? A common element is generally considered to be any part of a … Read more

Pareto Principle Definition.

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The Pareto principle is an economic theory that states that 80% of the effects come from 20% of the causes. In other words, a small number of factors are responsible for the majority of the outcome. This principle is named after Italian economist Vilfredo Pareto, who first observed that 80% of the land in Italy … Read more