Term
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Definition
| the ownership structure of a company or firm |
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Definition
| a business that one person (an entrepreneur) owns |
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Definition
| written permission given by the local government that allows a business to open |
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Definition
| law that does not allow people to operate a business in certain areas |
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Term
| Unlimited personal liability |
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Definition
| when the owner of a business is responsible for paying all the money the business owes |
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Term
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Definition
| having legal responsibility |
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Term
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Definition
| the limit of the amount of money to grow a business |
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Term
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Definition
| anything extra given to workers in addition to their wages,such as paid vacations, retirement plans, and medical insurance |
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Term
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Definition
| a business that two or more people own |
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Term
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Definition
| a partnership in which partners share equally in both responsibility and liabilty |
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Term
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Definition
| a partnership in which only one partner is required to have both responsibility and liability |
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Term
| Limited liability partnership |
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Definition
| a partnership in which all partners are limited partners |
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Term
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Definition
| a partnership agreement; lists each partner's rights and responsibilities and how the partner will share profits or losses |
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Term
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Definition
| the money and valuables belonging to an individual or business |
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Term
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Definition
| a business pays fees to a parent company for the right to sell a product or service |
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Term
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Definition
| Share of earnings given as payment to the owner of a patent or copyright |
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Term
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Definition
| a business that can be made up of many owners; the law allows it to act like a single person |
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Term
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Definition
| an official document issued by state governments that gives the right to create a corportation |
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Term
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Definition
| a unit of stock in a company |
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Term
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Definition
| a certificate that signifies ownership of a corporation |
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Term
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Definition
| a corporation that gives stock to only a few people, often members of the same family |
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Term
| Publicly held corporation |
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Definition
| a corporation that sells stock on the open market |
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Term
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Definition
| when investors can lose only the money they invested |
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Term
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Definition
| a type of loan an investor buys from a company or the government; the seller promises to pay back the investor's money plus a profit later |
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Term
| Certificate of incorporation |
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Definition
| a license to form a corporation issued by the state government |
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Term
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Definition
| the investor's share of a company's profit |
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Term
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Definition
| the difference between selling price and purchase price; it results in a financial gain for the seller |
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Term
| Limited liability corporation |
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Definition
| a type of business with limited liability of the owners; it does not pay corporate income tax |
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Term
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Definition
| when a business buys another business that produces the same goods and services |
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Term
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Definition
| the combination of businesses involved in the different stages in producing the same goods and services |
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Definition
| the business combination that brings together more than three businesses that make or provide unrelated goods and services |
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Term
| Multinational corporation |
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Definition
| a large corporation that operates in more than one country |
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Term
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Definition
| a business organization owned and operated by a group of individuals for their mutual benefit |
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Term
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Definition
| a retail outlet owned and operated by consumers that sells merchandise to members at reduced prices |
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Term
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Definition
| a type of cooperative that provides a service rather than a good |
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Term
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Definition
| an agricultural marketing cooperative that helps members sell their products |
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Term
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Definition
| an institution that functions much like a business but does not operate for the purpose of generating profit |
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Term
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Definition
| an activity or organization whose purpose is to improve on the social or economic welfare of humanity |
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Term
| Professional organization |
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Definition
| a nonprofit organization that works to the image, working conditions, and skill levels of people in particular occupations |
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Term
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Definition
| a group organized to promote the collective business interests of an area or group of similar businesses |
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Term
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Definition
| a nonprofit organization that promotes the interest of a particular industry |
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Term
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Definition
| an organization of workers that tries to improve working conditions, wages, and benefits for its members |
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