Seifu or Sifu : (shir-foo, seefoo)
Means Master in Mandarin and Cantonese respectively. Master is a rank and does not denote ownership like in the west. The rank of Seifu is earned through great perserverence and practical experience. There is no universal test to gain this level. Every school differs. In our school, 5th degree black sash earns the rank of Seifu. When a Master successfully passes the art down to another, thus ensuring continuation of the art, he/she gains the rank of Grand Master or 10th Degree Black Sash.
Lao Shi: (say loud w/out the 'd' for Lao. Shi as in Shirt w/out the 't')
Means Teacher. In many cases just Lao Shi or Sifu is appropriate. Teachers and Masters forgo their own needs and individual egos in order to do what is best for their students. It is a kind of selfless sacrifice to give up a name so that they can focus on the students. It is only to avoid confusion if there are other Lao Shi's in the room to have to say Walters Lao Shi.