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Marketing

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Term
Definition
Enterpreneurship   Process of starting and operating your own business  
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Entrepreneurs   people who create,launch,organize, and manage a new business and take the risk of business ownership  
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franchise   A legal agreement to sell a parent company's product or service in a designated geographic area  
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Sole prepreitorship   A business that is owned and operated by one person  
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Unlimited liability   the owner's financila liability isnot limited to investmesntsd in the business  
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partnership   A legal agreement between two or more people to be joinly resposible foe the success or failure of a business  
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generalpartnership   Each partner shares in the profits and losses  
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limited partnership   Limited partner is liable for any debts only up to the amount of hisor her investment in the company  
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limited liabilty   The personal assets of the owners cannot be taken ifg a company does not goes well and falls into legal trouble  
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Corporation   A legal entity created by either a state or a federal statute, authorizing individuals to operate an enterprise  
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Stockholders   The owners of a corporation and have limited liability  
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foreign corporation   One that is incorpated under the laws of a state that differs from the one in which it does business  
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LLC   A reletivly n ew form of business organization that is a hybird of a partnership and a corporation  
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DBA   The registrationvby which the county gov. officialy recongizes that a new propreitorship or partnership exists  
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Articles of incorporation   The name and address of a new corporatio0n , its purpose, and the names of the intial directors  
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