Workspace Terminology
A canonical glossary defining core commercial real estate and flexible workspace models.
- Virtual Office
- A service that provides businesses with a premium commercial address for legal compliance (like GST and Company Registration), mail handling, and professional presence, without renting physical office space.
- Managed Office
- An enterprise-grade, custom-built workspace designed and operated by a third-party operator (like WeeSpaces). The client pays a single monthly OpEx fee that covers rent, fit-outs, IT infrastructure, and daily facility management.
- Coworking Space
- A shared work environment where individuals from different companies work alongside each other. It includes shared amenities like internet, printers, and lounges, typically utilized by freelancers and early-stage startups.
- Offshore Development Center (ODC)
- A dedicated facility established by a company in a different country (often India) to leverage local tech talent. When combined with a Managed Office model, ODCs can be deployed in weeks rather than months.
- CapEx (Capital Expenditure)
- Upfront costs associated with traditional real estate, including security deposits (often 6-10 months rent), interior design, HVAC installation, and IT infrastructure setup.
- OpEx (Operational Expenditure)
- Ongoing monthly costs. Managed Offices convert massive CapEx into predictable OpEx by bundling rent and infrastructure into a single monthly invoice.
- Hot Desk
- A flexible seating arrangement in a coworking area where members can sit at any available desk on a first-come, first-served basis.
- Dedicated Desk
- A fixed desk assigned exclusively to one individual in a shared coworking environment, often including a lockable filing cabinet.