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Bsuiness/Tech 2013

Mrs.Westberry/ Johnson's vocab words for her Business and Technology class.

TermDefinition
Sole Proprietorship The sole proprietor is an unincorporated business with one owner who pays personal income tax on profits from the business.
Unlimited Liability A type of business where owners share joint and several responsibilities for the entire amount of debt and other liabilities amassed by the business.
Partnership A partnership is a single business where two or more people share ownership.
General Partner General partner is a person who joins with at least one other person to form a business.
Limited Partner A partner in a partnership whose liability is limited to the extent of the partner's share of ownership.
Master Limited Partnership A type of limited partnership that is publicly traded.
Corporation A corporation is a separate legal entity that has been incorporated through a legislative or registration process established through legislation.
Stock The stock (also capital stock) of an incorporated business constitutes the equity stake of its owners.
Stockholder Somebody who owns one or more shares of a company’s stock
Closed Corporation A type of business corporation that is owned and operated by a small group of people.
Open Corporation An open corporation is a corporation whose ownership shares are available for exchange on a public market.
Domestic Corporation A company that conducts its affairs in its home country.
Foreign Corporation An existing corporation that is registered to do business in a state or other jurisdiction other than where it was originally incorporated.
Alien Corporation A corporation that was created in another country.
Common Stock A security that represents ownership in a corporation.
Preferred Stock A class of ownership in a corporation that has a higher claim on the assets and earnings than common stock.
Dividend A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits.
Proxy A person who is given the power or authority to do something (such as to vote) for someone else.
Board of Directors A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization.
Corporate Officers Someone who operates a corporation within the corporate formalities and manages a corporation.
Limited Liability Limited liability is where a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership.
S-corporation S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes.
Limited-Liability Company A limited liability company (LLC) is a flexible form of enterprise that blends elements of partnership and corporate structures.
Not-for-Profit A not for profit organization is a type of organization that does not earn profits for its owners.
Cooperative A cooperative is a business or organization owned by and operated for the benefit of those using its services.
Joint Venture A joint venture (JV) is a business agreement in which the parties agree to develop, for a finite time, a new entity and new assets by contributing equity.
Syndicate A syndicate is a self-organizing group of individuals, companies, corporations or entities formed to transact some specific business, or to promote a common interest.
Merger The combining of two or more companies, generally by offering the stockholders of one company securities in the acquiring company in exchange for the surrender of their stock.
Hostile Takeover In a hostile takeover, one company buys another against its will.
Tender Offer Tender offer is a corporate finance term denoting a type of takeover bid.
Proxy Fight When a group of shareholders are persuaded to join forces and gather enough shareholder proxies to win a corporate vote.
Created by: Kattapocalypse
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