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one that is independently owned and operated for profit and is not dominant in its field
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a carefully constructed guide for the person starting a business
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Business 4-5
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| Question | Answer |
|---|---|
| one that is independently owned and operated for profit and is not dominant in its field | Small business |
| a carefully constructed guide for the person starting a business | Business plan |
| a governmental agency that assist, counsels, and protects the interests of small businesses in the united states | Small business administration (SBA) |
| a group of retired businesspeople who volunteer their services to small businesses through the SBA | Service Corps of Retired Executives (SCORE) |
| groups of senior and graduate students in business administration who provide management counseling to small businesses | Small-business institutes (SBIs) |
| university based groups that provide individual counseling and practical training to owners of small business | Small-business development centers (SBDCs) |
| money that is invested in small ( and sometimes struggling) firms that have the potential to become very successful | Venture capital |
| privately owned firms that provide venture capital to small enterprises that meet their investment standards | Small-business investment companies (SBICs) |
| a license to operate an individually owned business as though it were part of a chain of outlets or stores | Franchise |
| the actual granting of a franchise | Franchising |
| an individual or organization granting a franchise | Franchisor |
| a person or organization purchasing a franchise | Franchisee |
| A business that is owned ( and usually operated) by one person. | Sole Proprietorship |
| A legal concept that holds a business owner personally responsible for all debts of the business. | Unlimited Liability |
| A voluntary association of two or more persons to act as co-owners of a business for profit. | Partnership |
| A person who assumes full or shared responsibility for operating a business. | General Partner |
| A business co-owned by two or more general partners who are liable for everything the business does. | General Partnership |
| A person who contributes capital to a business but has no management responsibility or liability for losses beyond the amount he or she invested in the partnership. | Limited Partner |
| A business co-owned by one or more general partners who manage the business and limited partners who invest money in it. | Limited Partnership |
| A business partnership that is owned and managed like a corporation but often taxed like a partnership. | Master limited Partnership |
| A artificial person created by law with most of the legal rights of a real person, including the rights to start and operate a business, to buy or sell property, to borrow money, to sue or be sued, and to enter into biding contracts. | Corporation |
| The shares of ownership of a corporation. | Stock |
| A person who owns a corporations stock. | Stockholder |
| A corporation whose stock is owned by relatively few people and is not sold to the general public. | Closed Corporation |
| A corporation whose stock can be bought and sold by a individual. | Open Corporation |
| A corporation in the state which it is incorporated. | Domestic Corporation |
| A corporation in any state in which it does business except the one in which it is incorporated. | Foreign Corporation |
| A corporation chartered by a foreign government and conducting business in the United States. | Alien Corporation |
| Stock owned by individuals or firms who may vote on cooperate matters but whose claims on profit and assets are subordinate to the claims of others. | Common Stock |
| Stock owned by individuals or firms who usually do not have voting rights but whose claims on dividends are paid before those of common-stock owners. | Preferred Stock |
| A distribution of earnings to the stockholders of a corporation. | Dividend |
| A legal form listing issues to be decided at a stockholders' meeting and enabling stockholders to transfer their voting rights to some other individual or individuals. | Proxy |
| The top governing body of a corporation, the members of which are elected by stockholders. | Board Of Directors |
| The chairman of the board, president, executive vice presidents, corporate secretary, treasurer, and any other top executive appointed by the board of directors. | Corporate Officers |
| A feature of corporate ownership that limits each owners' financial liability to the amount of money that he or she has paid for the corporations stocks | Limited Liability |
| A corporation that is taxed as though it were a partnership. | S-Corporation |
| A form of business ownership that combines the benefits of a corporation and a partnership while avoiding some of the restrictions and disadvantages of those forms of ownership. | Limited Liability Company |
| A corporation owned and operated by a local, state, or federal government. | Government-Owned Corporation |
| A corporation organized to provide a social, education, religious, or other service rather than to earn a profit. | Not-For-Profit Corporation |
| An association of individuals or firms whose purpose is to perform some business functions for its members. | Cooperative |
| An agreement between two or more groups to form a business entity in order to achieve a specific goal or to operate for a specific period of time. | Joint Venture |
| A temporary association of individuals or firms organized to perform a specific task that requires a large amount of capital. | Syndicate |
| The purchase of one corporation by another. | Merger |
| A situation in which the management and board of directors of a firm targeted for acquisition disapprove of the merger. | Hostile Takeover |
| An offer to purchase the stock of a firm targeted for acquisition at a price just high enough to temp stockholders to sell their shares. | Tender Offer |
| A technique used to gather enough stockholder votes to control a targeted company. | Proxy Fight |
| A purchase arrangement that allows a firm's manager and employees or a group of investors to purchase the company. | Leveraged Buyout |
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qdw25