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Entrepreneurship and
Entrepreneurship and Ownership Key Terms
| Term | Definition |
|---|---|
| Entrepreneurship | The process of identifying and pursuing opportunities to create, develop, and manage a business venture. |
| Entrepreneur | An individual who initiates and manages a business venture, taking on financial risks in order to achieve success and create value. |
| Business Plan | A comprehensive document that outlines the goals, strategies, and financial projections of a business, serving as a roadmap for its operations and growth. |
| Executive Summary | A concise overview of the key elements of a business plan, summarizing the business concept, market analysis, financial projections, and objectives. |
| Risk | The possibility of experiencing negative outcomes or losses when engaging in business activities, often arising from uncertainties and external factors. |
| Limited Liability Company (LLC) | A legal business structure that provides its owners with limited personal liability for the company's debts and obligations. |
| Sole Proprietorship | A business owned and operated by a single individual, who assumes full personal liability for the company's debts and legal obligations. |
| C Corporation | A type of legal business entity that is separate from its owners, providing limited liability protection and allowing for stock ownership and shareholders. |
| S Corporation | A type of corporation that allows for pass-through taxation, where income and losses are passed through to the shareholders' personal tax returns. |
| Partnership | A legal business structure in which two or more individuals share ownership, responsibility, and liability for the business. |
| Franchise | A business model in which an individual or group purchases the rights to operate a business using an established brand, marketing, and operational system. |
| Stock | A form of ownership in a corporation, representing a share of the company's ownership and entitling the holder to certain rights and benefits. |
| Share | An individual unit of ownership in a company, representing a fraction of the company's total stock. |
| Stockholder | An individual or entity that owns shares of stock in a corporation, thereby having a partial ownership interest in the company. |
| Dividend | A distribution of a portion of a company's profits to its shareholders, typically in the form of cash or additional shares of stock. |
| Liability | Legal responsibility or obligation to fulfill financial or legal duties and obligations. |
| Limited Liability | A legal concept that protects the owners of a business from being personally liable for the company's debts and legal obligations. |
| Unlimited Liability | A legal concept where business owners are fully responsible for all debts and legal obligations of the company, potentially risking personal assets. |
| Stakeholders | Individuals or groups who have an interest or are affected by the actions and outcomes of a business, including shareholders, employees, customers, suppliers, and the community. |
| Aptitude | Natural ability, talent, or capacity to acquire and apply knowledge or skills in a particular area. |
| Skill | Proficiency or expertise acquired through training, practice, or experience in performing specific tasks or activities. |
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jesuscepedasoto
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