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OWNERSHIP AND LAW
UNIT2
Question | Answer |
---|---|
a legal process that allows selling assets to pay off debts | Bankruptcy |
a written description of the business and its operations with analysis of the opportunities and risks it faces | Business plan |
an official document granted by a state giving power to run a corporation | Charter |
a business owned and operated by its user-members for the purpose of supplying themselves with goods and services | Cooperative |
similar to a patent in that the federal government gives an author by the sole right to reproduce, publish, and sell literary or artistic work for the life of the author plus 70 years | Copyright |
those to whom money is owed | Creditors |
profit distributed to stockholders on a per-share basis | Dividends |
a sales tax that applies only to selected goods and services, such as gasoline | Excise tax |
a tax leveied against the profits of business firms and against earning of individuals | Income tax |
business operations and transactions that cross over state lines | Interstate commerce |
business transacted within a state | intrastate commerce |
a way to limit and control those who plan to enter certain types of businesses | Licensing |
a business owned by two or more persons | Partnership |
an agreement in which the federal government gives an inventor the sole right for 20 years to make, use, and sell an invention | Patent |
a written authorization for someone to vote on behalf of the person signing the proxy | Proxy |
a tax levied on material goods owned | Property tax |
a tax levied on the retail price of goods and services at the time they are sold | Sales tax |
equal parts of the division of ownership of a corporation | Shares |
a business owned and managed by one person | Sole proprietorship |
owners of a corporations | Stockholder |
a distinguishing name, symbol, or special mark placed on a good or service that is legally reserved for the sole use of the owner | Trademark |