The Nature of the Firm"The Nature of the Firm" (1937) is an article by Ronald Coase. It offered an economic explanation of why individuals choose to form partnerships, companies, and other business entities rather than trading bilaterally through contracts on a market. The author was awarded the Nobel Memorial Prize in Economic Sciences in 1991 in part due to this paper. Despite the honor, the paper was written when Coase was an undergraduate and he described it later in life as "little more than an undergraduate essay.
Membrane potentialMembrane potential (also transmembrane potential or membrane voltage) is the difference in electric potential between the interior and the exterior of a biological cell. That is, there is a difference in the energy required for electric charges to move from the internal to exterior cellular environments and vice versa, as long as there is no acquisition of kinetic energy or the production of radiation. The concentration gradients of the charges directly determine this energy requirement.
Project financeProject finance is the long-term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of its sponsors. Usually, a project financing structure involves a number of equity investors, known as 'sponsors', and a 'syndicate' of banks or other lending institutions that provide loans to the operation.
Special Air ServiceThe Special Air Service (SAS) is a special forces unit of the British Army. It was founded as a regiment in 1941 by David Stirling and in 1950, it was reconstituted as a corps. The unit specialises in a number of roles including counter-terrorism, hostage rescue, direct action and covert reconnaissance. Much of the information about the SAS is highly classified, and the unit is not commented on by either the British government or the Ministry of Defence due to the secrecy and sensitivity of its operations.
