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Entrepreneurship

retakes

TermDefinition
Business format franchise franchise must operate under the trade name of parent company
Consolidation form of business growth; many smaller companies
Corporation business owned by stockholders;share company,artificial being
Expansion extends its operation or facilities
Limited liability Company (LLC) limited liability, limited taxation on company income,limited life for business entity
Merger two individual businesses combine to form one organization
Partnership Business owned by two or more
Product trade name franchise dealership or exclusive distributorship
Sole Proprietorship business owned by one person receives all profits,takes all the risks
Privacy Owner only one who knows details o the business
Partnership two or more people share the assets, liabilities, and profits
Assets anything of value that a business or individual owns -capital
Border directors group of people chosen to govern activity of cooperation
Cooperation stockholders purchased the unit or share of the company an artificial being
C cooperation unlimited stockholders and is susceptible to dual taxation
S corporation limited-100/fewer shareholders has limited Shareholder liability
Dual/double taxation leveling of two taxes on same income
Dividend sum of money paid to an investor or stockholder
Limited liability restricted chance of loss
Nonprofit Corporation legal business structure primarily operates for purpose of serving others
Operating agreement terms of the business arrangement
StockHolder owners of stock; aka shareholders
Unlimited liability can be used to pay the debt
Franchising method of distributing recognized goods and services a legal agreement
Franchisor parent company;distributed through a contractual franchising agreement
Franchise contractual agreement between parent company and a franchise
Franchisee buys the right to sell the goods or services parent company
Master Licensee firm who helps franchisors and franchisees in a particular region
Multi-Level Marketing sales earned by people at two or more levels
Operating agreement limited liability partnership, limited liability company
Piggyback Franchise franchise operates within the facilities of another store
Pyramid Scheme illegal form of multi-level marketing
Royalty fees paid to a parent company that are often based on percentage
Hybrid businesses two or more organizational practices to support their product
Created by: user-1861355
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