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definitions

QuestionAnswer
entreprenurs someone who creates, lunches,organizes,and manages a new business and takes the risk of buisness ownership
entrepreneurship the skills of people are willing to invest their time and money to run a business; the process of starting and operating your own buisness
franchise a legal agrement to sell a parent company's product or services in a designated geographic area
Sole proprietorship a buisness that is owned and operated by one person
unlimited lability owners finacial liability is not limited to investments in the buisness
partnership legal agreement between 2 or more people to be jointly responsible for the succes or failure of a buisness
General Partnership a type of busniess ownership in which each partner shares in the profits and losses
limited partnership each limited partner is liable for any depts only up to the amount of his or her investment in the company
limited liability meanes that the personal assets of the owners cannot be taken if a company does not meet its financial obligations or if it gets into legal trouble
corporation a legal entity created by either a state or federal staute authorizing individuals to operate an enterprise
stockholders the owners of a corperation and have limited liability
foregin corporation one that is incorporated under the laws of a state that differs from the one in which it does business
limited liability company companyrelatively new form of business organization that is a hybrid of a partnership and a corperation
doing business As registration by which the county goverment officialy recognizes that a new proprietorship or partnership exist lega
Articals of Incorporation identifies the name and adress of a new corporation ,its purpose,the names of the initial directors and the amount of stock that will be issued to each director
Created by: courtney.allen21
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