E-lingo: getting to know your marketsWordplay: James Catchpole and Simon Walker decipher the language of the geekYou are no doubt coming across the increasing plethora of acronyms associated with the world of e-commerce.

As new terms are rapidly assimilated into everyday conversation, they are frequently left unexplained.

The following is a first of a two-part guide to some of the more commonplace terms: l m-Commerce, or mobile commerce, involves hand-held wireless devices, such as cellular phone and personal digital assistants, to communicate, interact and transact via high-speed connections to the Internet.

With the advent of advance wireless technologies allowing consumers to access services anytime, m-commerce is regarded as this decade's next major wave.

l v-biz, also known as Vortal (short for vertical portal) or voice portals, refers to Web sites or other services where users can obtain information by telephone, such as weather or stock quotes.

Mobile users can dial into voice portal Web sites and request information using voice or touchtone keys to receive requested voice information or, in some cases, e-mail messages.l E2E, is used to describe the less familiar term exchange-to-exchange.

E2E is the exchange of information or transactions between Web sites that serve as exchanges or brokers for goods and services between businesses.

l e-Markets and e-Marketplaces are communities of buyers and sellers for the brokerage of goods and services, from gas to fruit and veg.

They act as facilitators, by matching buyers and sellers to establish a level playing field; invariably they will not take physical possession of items being traded.l Electronic Hubs, or e-hubs, bring buyers and suppliers together in one virtual marketplace automating transactions to enable them to buy and sell from each other, at dynamic prices in real-time and for low transaction costs.

e-Hubs focus on specific dimensions: vertical hubs specialise in specific industries or vertical markets, focusing upon 'spot procurement' and 'systematic procurement' in specific domains; horizontal hubs focus on serving the same function or business across many industry sectors.l e-Outsourcing describes the activity of buying IT products and services via the Internet that would once have been furnishedin-house.

Organisations now hire a variety of firms to establish and run Web sites, provide back and front-office applications, and so on.l e-Procurement solutions are rapidly being adopted by mainstream companies.

They consists of Internet technology platforms and services for the corporate acquisition of goods and services, including all processes from the identification of a need to purchase through to the payment, and often involve post-contract/payment activities such as contract and supplier management and development.As the new economy assumes greater importance, new dictionary entries will no longer be confined to the language of the street or showbiz but increasingly include that of the geek.James Catchpole is a member of the IP, IT and digital business group and Simon Walker is head of e-Business at Landwell UK