Entrepreneurship
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| Entrepreneurship | the 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 services in a designated geographic area
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| Sole Proprietorship | a business that owned and operated by one business
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| Unlimited Liability | the owner's financial liability is not limited to investments in the business
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| Partnership | a legal agreement between two or more people to be jointly responsible for the success or failure of a business
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| General Partnership | each partner shares in the profits and losses
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| Limited Partnership | each limited partner is liable for any debts only up to the amount of his or her investment in company
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| Limited Liability | means that the personal assets of the owners cannot be taken if the company does not meet its financial obligations or if it gets into legal trouble
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| Corporation | a legal entity created by either a state or a federal statue, 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 incorporated under the laws of a state that differs from the one in which it does business
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| Limited Liability Company (LLC) | a relatively new form of business organization that is a hybrid of a partnership and a corporation
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| DBA (Doing Business As) | the registration by which the county government officially recognizes that a new proprietorship or partnership exists
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| Articles of Incorporation | identify the names and address of a new corporation, its purpose, and the names of the initial directors
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Created by:
rymeer
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