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chapter 22

sole proprietorship business owned and operated by one person
financial capital money needed to run businesses
partnership business two or more people own
articles of partnership paper stating who will pay what and who will take care of what
corporation business recognized by law that has many rights and responsibilities
charter governemnt document giving permission to organize
stock Ownership shares of corporation
stock holders part ownership of corporation
board of directors person to act on their behalf
cooperative voluntary association of people to carry on economic activity that benifits its members
labor unions group of workers who work together to get better paying jobs
right to work laws prevents mandority union membership
collective bargaining people come and meet to talk about workers new contract
mediation third party to help reach a compromise agreement
Created by: jordanlofton