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What's the meaning of line of business


Line of business (LOB) is a general term that describes the related product or services a business or manufacturer offers. A company that manufactures solid-state disk drives, for example, might claim its LOB is data storage.

What are different lines of business?

What are the examples of Lines of Business? The primary revenue-generating process of an organization (or individual) is considered its line of business. It could be selling homes or insurance, lawn services, or manufacturing, etc.

What are the four line of business?

Typically, there are four main types of businesses: Sole Proprietorships, Partnerships, Limited Liability Companies (LLC), and Corporations. Before creating a business, entrepreneurs should carefully consider which type of business structure is best suited to their enterprise.

What is meant by line of business in insurance?

(Insurance: General) A line of business is a general classification of business used by the insurance industry, such as fire, commercial, personal, auto, or residence. Property and casualty insurers currently make the most money from their auto insurance line of business.

What is a single line of business?

A line of business is a corporate subdivision focused on a single product or family of products.




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