click below
click below
Normal Size Small Size show me how
marketing
Question | Answer |
---|---|
partnership | a legal agreement between two or more people to be jointly responsible for the success or failure of a business |
General partnership | a type of business ownership in which each partner share in the profits and losses |
Limited partnership | a type of business ownership in which each limited partner is liable for any debts only up to the amount of his or her investment in the company |
limited liability | a type of investment in which the personal assets of the owners cannot be taken if a company does not meet its financial obligations or gets into legal trouble |
corporation | a legal entity created by either a state or federal statue, authorizing individuals to operate an enterprise |
stockholder | an owner of a corporation with limited liability |
foreign corporation | one that is prevented under order the loss of state |
LLC | the owners, or members, are protected from personal liability |
owning a franchise | a franchise has a lot of help from the franchisor, a large amount of capital is needed to purchase most franchise |
franchsie | a legal agreement to sell a parent company's product |
sole proprietorship | a business that is owned and operated by one person |
unlimited liability | a type of investment in which the business owners financial liability is not limited to investments in the business |
DBA | the registration by which the county government officially recognizes that a new proprietorship or partnership exists |
articles of incorporation | identifies the name and address of a new corporation, its purpose , the names of the initial directors, and the amount of stock that will be issued to each director |