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Stack #2602450

TermDefinition
Entrepreneurship The skills of people who are willing to invest their time and money to run a business
Entrepreneurs Someone who crates launches organizes and manges a new business and takes the risk of business ownership
Franchise A legal agreement to sell a parent pompanys product or services ina disignated geographic area
Sole Proprietorship A business that is owned and operated by one person
Unlimited Liability A type of investment in which the business owners finacial liability is not limited to investments in the business but extends to his or her total ability to make payments
Partnership A legal agreement between two or more people to be jointly responsiable for the sucess or failure of a business
General Partnership A type of business ownership in which each partner shares in the profits and loses
Limited Partnership a type of business ownership in which each limited partner is liable for any debts only up to the amount of his or her investments in the company
Limited Liability A type of investment in which the personal assets of the owner 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 by the state or federal statue authorizing individuals to operate an enterprise
Stockholders The owners of a corporation and have limited liability
Foregin Corporation One that is incorperated under the laws of state that differs from the one in which it does businesss
Limited Liability Company A relatively new form of business organization that is hybird of a new partnershipand a corporation
Doing Bussiness As ( The regerstration by which the county goverment offically recognize that a new proprietship or partnership exist
Articles of incorporations identifies the name and address of a new corporation its purpose the names of the inital directors and the amount of stock that will be issed to each director.
Created by: 105425
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