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Vocab

TermDefinition
Sole proprietorship a business owned by one person
Unlimited liability A type of investment in which a partner or investor can lose an unlimited amount of money.
Partnership the relationship between two or more people or organizations that are involved in the same activity
General partner business a member of a partnership whose liability is not limited
Limited partner a business partner who has no management responsibility and whose liability for company debts is limited to his or her financial stake
Master limited partnership A limited partnership that is publicly traded on a securities exchange. It combines the tax benefits of a limited partnership with the liquidity of publicly traded securities.
corporation A company recognized by law as a single body with its own powers and liabilities, separate from those of the individual members. Corporations perform many of the functions of private business, governments, educational bodies, and the professions.
stock a supply of goods for sale, kept on the premises by a store or business
Stockholder somebody who owns one or more shares of a company's stock
Closed corporation A corporation in which all of the voting stock is held by a few shareholders, such as management or family members.
Open corporation Firm whose shares are publicly traded, and are not monopolized by a small group of investors.
Domestic corporation Local corporation, formed under the laws of the jurisdiction where it is domiciled.
Foreign corporation A foreign corporation is a term used in the United States for 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 company incorporated under the laws of a foreign country regardless of where the company conducts its operations
Common stock Shares entitling their holder to dividends that vary in amount and may even be missed, depending on the fortunes of the company.
Preferred stock stock that entitles the holder to a fixed dividend, whose payment takes priority over that of common-stock dividends
Dividend something good or desirable that is gained as a bonus along with something else
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 person’s financial liability is limited to a fixed sum most commonly the value of a person’s investment in a company or partnership
Limited liability the liability of a firm's owners for no more than the capital they have invested in the firm
S-corporation An S corporation, for United States federal income tax purposes, is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. In general, S corporations do not pay any federal income taxes
Limited-liability company A noncorporate business whose owners actively participate in the organization's management and are protected against personal liability for the organization's debts and obligations
Not-for-profit corporation A nonprofit organization is an organization that uses surplus revenues to achieve its goals rather than distributing them as profit or dividends
Cooperative doing or willing to do what is asked or required
Joint venture a commercial enterprise undertaken jointly by two or more parties that otherwise retain their distinct identities.
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 The acquisition of one company by another that is accomplished by going directly to the company's shareholders or fighting to replace management in order to get the acquisition approved.Itcan be accomplished through either a tender offer/proxy fight.
Tender offer finance an offer to buy many shares in a company from any seller, usually at a considerable premium, in an effort to obtain a controlling interest
Proxy flight a measure used by an acquirer to gain control of a takeover target; acquirer tries to persuade other shareholders that the management of the target should be replaced
Created by: Barnes1998