Definitions from Wiktionary (ratchet)

▸ noun:  A pawl, click, or detent for holding or propelling a ratchet wheel, or ratch, etc.
▸ noun:  A mechanism composed of a ratchet wheel, or ratch and pawl.
▸ noun:  A ratchet wrench.
▸ noun:  (by extension) A procedure or regulation that goes in one direction, usually up.
▸ noun:  A noisemaker or musical instrument where sound is generated by a board striking against a rotating gear.
▸ verb:  (transitive) To cause to become incremented or decremented.
▸ verb:  (intransitive) To increment or decrement.
▸ adjective:  (US, slang) Ghetto; unseemly, indecorous.
▸ noun:  (finance) Ellipsis of full ratchet. [(finance) An antidilution approach by which, if a subsequent round of funding would decrease an investor's equity ownership percentage, the investor is given additional shares to maintain the former percentage.]
▸ Also see ratchet

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