A symptom where result of an action appears later than expected. While different kinds of latency are well defined technical terms, lag is the symptom, not the cause.
Last mile
Typically refers to the link between the subscriber and the telco’s central office.
Local access and transport area: a geographic area within a telephone company’s franchised territory.
Lata access
The origination or termination of interlata telco traffic for an interexchange carrier.
The time it takes to get information across a network.
Least cost routing: in international voice telecommunications, least cost routing (LCR) provides telecoms carriers with the ability to land calls at any given destination using the most cost-effective call delivery route. To achieve this, a telco must negotiate multiple wholesale telecoms capacity agreements      with other carriers. LCR team buyers negotiate with other carriers to obtain best price ratings for call delivery to given call destinations so that the LCR team can cherry-pick and establish competitive routing and delivery cost delivered with the objective of terminating the call at its destination for the least cost. Maintaining a competitive cost base and acceptable call quality requires that a number of routes are established at different pricings, quality and capacity, to a given country. Quality of route to a destination may vary. There are also niche carriers specialising in providing termination to a limited number of destinations delivery route can be chosen, enabling consumer call costs to be fixed – margins usually range from 5% to 10%. As well as the usual terms of payment and dispute resolution, carrier interconnection agreements include terms of price notifications. The industry standard is currently seven days for price increases and must be issued with in 24 hours of the cost increase to avoid revenue losses. Least cost routing is also used to describe independent service provider equipment installed on customer premises, which is pre-programmed for automatic selection of call routing of each call.
Local exchange carrier
Label edge router
Local loop unbundling
Local number portability
Local loop
The portion of a communications circuit between the subscriber’s equipment and the equipment in the local exchange.
Local trunk
Trunk lines between local exchanges.
Limited player online game: games designed to comprise between two and 256 concurrent players.
Label switch router
Local service request: form used by CLECs to request a local loop from ILECs.
Long-term evolution: is the latest standard in the mobile network technology