Underwriters Laboratories - UL

AAA

DEFINITION of 'Underwriters Laboratories - UL'

A global safety science company, and the largest and oldest independent testing laboratory in the United States. Underwriters Laboratories (UL) tests the latest products and technologies for safety before they are marketed around the world. It tests over 19,000 different products annually, ranging from consumer electronics, alarms and security equipment, to lasers, medical devices and robotics.


Founded in 1894, Underwriters Laboratories offers its services in five strategic areas - product safety, environment, life & health, university and verification services.

INVESTOPEDIA EXPLAINS 'Underwriters Laboratories - UL'

Underwriters Laboratories is a non-profit organization that is funded by the fees it charges manufacturers of products that are submitted for certification. UL charges fees for the initial evaluation process, as well as ongoing maintenance fees for follow-up service.


UL's operations are global in scope, with customers in 102 countries. In 2009, 20 billion UL Marks appeared on products, while 1.5 billion consumers in Asia, Europe and North America were reached by UL with safety messages.

RELATED TERMS
  1. Quality Control

    A process through which a business seeks to ensure that product ...
  2. Acceptance Testing

    A functional trial performed on a product before it is put on ...
  3. Six Sigma

    A quality-control program developed in 1986 by Motorola. Initially, ...
  4. Underwriting Standards

    Guidelines established to ensure that safe and secure loans are ...
  5. Standardization

    A framework of agreements to which all relevant parties in an ...
  6. Lloyds Organizations

    An insurance syndicate that bases its organizational structure ...
Related Articles
  1. Economics

    Does High GDP Mean Economic Prosperity?

    GDP is the typical indicator used to measure a country's economic health. Find out what it fails to reveal and how the Genuine Progress Indicator can help.
  2. Home & Auto

    Wheels Of A Future Fortune

    Buy a quality car without driving your expenses through the roof.
  3. Fundamental Analysis

    The Financial Characteristics Of A Successful Company

    There are many factors that contribute to a profitable business. Find out what they are here.
  4. Fundamental Analysis

    Standard Of Living Vs. Quality Of Life

    What is the difference between a standard of living and quality of life? Find out in this breakdown.
  5. Options & Futures

    The Alphabet Soup Of Financial Certifications

    We decode the meaning of the many letters that can follow the names of financial professionals.
  6. Personal Finance

    A History Of U.S. Monopolies

    These monoliths helped develop the economy and infrastructure at the expense of competition.
  7. Insurance

    International Reporting Standards Gain Global Recognition

    Comparing financial numbers from corporations in different countries is possible with the adoption of IFRS.
  8. Top fund-raising strategies for nonprofit organizations
    Taxes

    Top Fund-Raising Strategies For Nonprofits

    Top fund-raising strategies for nonprofit organizations
  9. Did you know basketball and volleyball were invented by instructors at a charity?
    Taxes

    The Top Nonprofit Organizations

    Did you know basketball and volleyball were invented by instructors at a charity?
  10. Home & Auto

    What is real estate underwriting?

    See how underwriters for major lenders scrutinize real estate loans and manage their risk, and learn the origin of the term "underwriting."

You May Also Like

Hot Definitions
  1. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  2. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  3. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  4. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  5. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  6. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
Trading Center