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105 obvi
| Question | Answer |
|---|---|
| acquisition | The process of taking possession of something (e.g, acquiring another business by purchasing it) |
| annual report | a document outlining the financial status of a business |
| asset(s) | anything of value that a business or individual owns |
| better business bureau | a consumer organization that monitors complaints against businesses |
| board of directors | a group of people chosen to govern the activities of a corporation |
| business-format franchise | a franchise arrangement in which the franchise must operate under the trade name of the parent company that provides continuous assistance in setting up and operating the business. |
| "c" corporation | A form of business ownership that is considered a separate legal entity from its owners; can be owned by unlimited stockholders and is susceptible to dual taxation; also known as a public corporation |
| capital | Assets of a business |
| commission | A percentage of a 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 companies |
| corporation | A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an "artificial being, invisible, intangible, and existing only in contemplation of law" (U.S. Supreme court) |
| dealership | see product trade-name franchise |
| dividend | a sum of money paid to an investor or stockholder as earnings on an investment |
| dual/double taxation | the levying of two taxes on the same income (e.g., tax on a corporation's income as well as dividends) |
| exclusive distributorship | see the product trade name 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 franchisee to distribute goods or services |
| franchisee | one who buys the right to sell the goods or services of the parent company(franchisor) |
| franchising | A method of distributing recognized goods and services through a legal agreement between two parties |
| franchisor | a parent company and owner of the name and/ or system that is being distributed through a legal agreement between two parties |
| general partnership | a type of partnership agreement in which all partners are liable for a business's losses; also known as ordinary partnership |
| hybrid structure | a form of business ownership that combines elements of corporations and either sole proprietorships or partnerships elements of corporations and either sole proprietorships or partnerships |
| joint venture | an arrangement that involves two or more businesses entering into a relationship by combining complementary resources, such as technology, skills, capital, or distribution channels, for the benefit of all parties; the relationship is usually short term or |
| licensee | the buyer of copyrighted, patented, trademarked material. |
| licensing | a business structure that requires the authorization or permission from an owner to another entity to use trademarked , copyrighted |
| licensor | the owner of of copyrighted, patented, or trademarked material |
| limited liability | restricted chance of loss; a condition in which business owners risk only the amount of their investment |
| limited liability company | a form of business ownership in which members of a corporation experience limited liability; there is limited taxation on company income and limited life for the business entity |
| limited liability partnership | a form of business ownership that is generally used by business professionals for the purpose of protecting innocent partners from the malpractice of the other partners |
| limited partnership | a type of partnership agreement in which at least one partner has limited liability and a general partner has unlimited liability; the liability |
| master licensee | a person or firm who helps franchisors find franchisees in a particular region or territory |
| merger | two individual businesses that combine to form one organization |
| multi-level-marketing | a business structure that pays commissions on sales earned to people at two or more levels; the sales represenatives usually work independently of the company; the re |
| nonprofit corporation | a legal business structure that primarly operates for the purpose of serving others not to make a profit; income is used to cover operational expenses |
| operating agreement | |
| partnership |
Created by:
tareekalatrice