Much of business information is text and the information is subject to frequent changes. The use of efficient and effective mechanisms to retrieve required business information is a key to business success, and automated processing of text to extract keyterms is an essential component of such an information retrieval (IR) system. Traditional text processing methods based on complex linguistic or statistic techniques are not efficient in dealing with frequently changing business information and do not necessarily provide satisfying IR results. We propose a simple method to extract important terms (keyterms) from text for application in different aspects of IR and show through experimentation that its performance is comparable to or better than complex methods.