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Forms of Ownership

5-2

QuestionAnswer
What term means, a business owned and run by just one person? Proprietorship
What term means, a business owned and controled by two or more people who have entered into a written agreement? Partnership
What term means, a separate legal entity formed by documents filed with your state? Corporation
What term means, a written agreement amoung all owners? Partnership Agreement
What term means, a written legal document that defines ownership and operating procedures and conditions for the business? Articles of Incoporation
Created by: jacobsen616
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