Business Law Glossary: E

EIR: Popular acronym for environmental impact report, required by many states as part of the application to a county or city for approval of a land development or project. See also: environmental impact report. Emotional Distress: Mental anguish. Employee Stock Ownership Plan: An employer-provided benefit that allows employees to purchase stock in the company under certain favorable terms. Employee Assistance Program ("EAP"): A workplace program provided by the employer to assist employees in recovering from drug or alcohol abuse, emotional problems, job stress, marital discord, or workplace conflict. Entity: A general term for any institution, company, corporation, partnership, government agency, university or any other organization which is distinguished from individuals. Environmental Impact Report: A study of all the factors which a land development or construction project would have on the environment in the area, including population, traffic, schools, fire protection, endangered species, Equal Employment Opportunity Commission: The federal administrative agency that enforces laws prohibiting discrimination in employment. Equal Pay Act: A federal law that requires employers to pay the same to all employees who do the same work, regardless of gender. Equitable Remedies: Remedies that do not include monetary settlements. Examples include injunctions and restraining orders. Equity Financing: A method of financing where a company issues shares of its stock and receives money. Equity Interest: Another term for an ownership interest in a company. Evidence: The body of law concerning the manner of presentation of information to a judge or jury in a trial. Ex Officio: Latin for "from the office," to describe someone who has a right because of an office held, such as being allowed to sit on a committee simply because one is president of the corporation. Exhibit: Any piece of physical evidence that is used at a trial. Expense: In business accounting and business taxation, any current cost of operation, such as rent, utilities and payroll, as distinguished from capital expenditure for long-term property and equipment. Expert: A witness who may give an opinion in court based on the particular competence of that witness.