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Key Terms

Stockholder Somebpdy who owns one or more shares of a company’s stock
Sole Proprietorship A sole proprietor is someone who owns an unincorporated business by himself or herself
Unlimited 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
Partnership the relationship between two or more people or organizations that are involved in the same activity
General Partner business an owner of part of a company, usually a company he or she works in, who shares both the financial risks and the profits of the business
Limited Partner on which some form of limit or restriction is imposed on the partner
Master Limited Partner Master Limited Partnership investments deliver a simple value proposition: low taxes and high yields.
Corporation a group of people acting as a single entity
Closed Corporation A close corporation is generally a smaller corporation that elects close corporation status and is therefore entitled to operate without the strict formalities normally required in the operation of standard corporations.
Open Corporation Helps to manage business content and meet information governance requirements. Has a list of products, solutions, and services.
Corporation a corporation which is permitted by state law to operate more informally than most corporations (allowing decisions without meetings of the Board of Directors) and has only a limited number of shareholders
Foreign Corporation A corporation which is incorporated under the laws of a different state or nation. A "foreign" corporation must file a notice of doing business in any state in which it does substantial regular
Alien Corporation A company incorporated under the laws of a foreign country regardless of where the company conducts its operations
Common Stock Securities that represent equity ownership in a company
Perferred Stock Capital stock which provides a specific dividend that is paid before any dividends are paid to common stock holders
Dividend finance company profits paid pro rata to stockholders, either in cash or in more shares
Proxy the function or power of somebody authorized to act for another person
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 A Corporate Officer is a high ranking person in a given corporation that is assigned a title indicating his position within the 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 Corporation A nonprofit organization, or not-for-profit organization, often called an NPO or simply a nonprofit and non-commercial organization
Cooperative a business that is jointly owned by the people who run it, with all profits shared equally
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 an association of businesses jointly contributing capital to a major project
Merger the joining together of two or more companies or organizations
Hostile Takeover A takeover that is resisted by the management of the target company
Tender Offer An offer to buy shares in a corporation (usually above the marke price) for cash or securities or both
Proxy Fight A measure used by an aquirer to gain control of a takeover target; acquirer tries to persuade other shareholders that the management of the target shoul be replaced