Glossary of terms

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W

WAP

Wireless Application Protocol, the European standard for wireless devices to access te internet; consists of four layers: WTL, WAE, WSL and WTLS. Developed by Unwired Planet (now Phone.com) in 1997, and adapted by Ericsson, Nokia and Motorola.

Window of opportunity

The best investments often take place because of circumstances that will never happen again. A "window of opportunity" is the period of time when these circumstances are favorable.

Worst case scenario

Investors backing a business like to contemplate what will happen if all its hopes come to pass - but if they are sensible they also consider the consequences if none of them come true.