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sole proprietorship a business owned and operated by a single person
financial capital money used to buy the tools and the equipment used in productions
partnership a business owned by two or more people
articles of partnership formal legal papers specifying the arrangement between partners
corporation type of business organization owned by many people but treated by law as though it were a person
charter a written document granting land and the authority to set up colonial governments is able to check or a government document granting permission to organized a corporation
stock ownership share of a corporation
stockholders an individual who invested in a corporation and owns some of its stock
board of direction people elected by the shareholders of a corporation to act on their behalf
cooperative a voluntary a associations formed to carry some type of economic activity that will benefit their its members
labor of union association of workers organized to improve wage and working conditions
right to work law states law forbidding workers to join
collective bargaining process in which unions and employers negotiate the conditions of employment
mediation situations in which union and company officials bring in the third party to try to help them reach an agreement
arbitration situations in which union and company officials submit the issues they can not agree on to a third party for a final decision
strike when workers deliberately stop working in order to force an employer to give in to their demands
boycott the refusal to purchase certain goods
transparency process of making business deals more visible to everyone
discrimination unfair treatment based on a certain group
social responablity the obligation a business has to pursue goals that benefit society as well as themselves
Created by: somonnemclean