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Ent 1 Obj 105
Types of Business
| Term | Definition |
|---|---|
| acquisition | the process of taking possession of somthing /acquiring another business by purchasing it |
| annual reports | a document outlining the financial status of a business |
| assest | anything of value that a business owns |
| better business bureau | a consumer organizaion that monitors complasints against businesses |
| board of directors | a group of people chosen to governthe activites of a corperation |
| business format franchise | a franchise arrangement in which the franchisee must operate under the trade name of the parent compsany that provides continuos assistance in setting up and operating a business |
| corperation | a form of business ownership that is considered a seperate leagal enitity from its owner |
| capital | assets of a business |
| commission | a percentge of the total sale amount paid to the individual or business that makes the sale |
| consolidation | a form of business growth in which a corporation acquires many smaller compsanies |
| corporation | a form of business ownership that is owned by stock holders who have purchased units or shares of the company |
| dealership | see product trade name franchise |
| dividend | a sum of money paid to an investor or stockholer as earnings on an investment |
| dual/double taxation | the levying of two taxes on the same income |
| exclusive distrubution | see producyt tradename franchise |
| expansion | a form of business growth in which a company extends its operations or facilities using new capital or reinvested funds |
| franchise | a contractual agreement between a parent company and a franchise to distribute goods or services |
| franchisee | one who buys the right to sell the goods or services of the parent company |
| franchisisng | a method of disributing recognized goods and services througha legal arrangent |
| franchisor | a parent company and owner of the name and or system that is being distributed throgh a contractual franchising arrangement |
| general partnership | a type of partnership agreement in which all partners are liable for a business's loss |
| hybrid structure | a form of business ownership that combines elements of corperations and either sole propritorships or partnerships |
| joint venture | an arrangment that ivoles two or more businesses entering into a realationship |
| licensee | the buyer of a copyrighted patented or trademarked material |
| licensing | a business structure that requires the authourization or permission from an owner to another entity to use trademarked copyrighted or patented matieral |
| limitied liability | restricted chance of loss a condition in which businessowners risk only the amount of there investment |
| limited liability company | a form of business ownership that is generaly used by business profesionals for the purpose of protecting innocent pertners from the practice of others |
| limited liability partnership | a form of business owner ship that is generally used by business profssionals for the purpose of protecting innocent from what others did |
| limited partnership | a type of partnership agreement in which at least one partner has limited liability |
| master licensee | a person or firm who helps frachisors find franchisees in particular region or territory |
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