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| a business that is established owned operated and often financed by one person |
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| an association of two or more people who agree to operate a business together for profit |
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| a partnership in which all partners share in managment and profits. each partner can act on behalf of the firm and has unlimited liability for all its business obligations. |
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| a partnership with one or more general partners who have unlimited liability and one or more limited partners whose liability is limited to the amount of their investment in the company. (only liable for what they put into it) |
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| partners who have unlimited liability for all of the firms business obligations and whos control its operations |
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| partners whose liability for the firms business obligations is limited to the amount of their investment. they help to finance the business but do not participate in the firms operations (give them money and thats about it) |
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| a legal entity with an existence and life separate from its owners who are not personally liavle for the entitys debits a corporation is chartered by the state in which it is formed and can own property, enter into contracts, sue and be sued, and engage in business operations under the terms of its charter. |
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| stockholders (for shareholders) |
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| the owners of a corporation that hold shares of stock that provide them with certain rights |
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| a group of people elected by the stock holders to govern and handle the overall managment of a corporation such as setting major corporate goalsand policies giring corporate officers and overseeing the firms operations adn finances. |
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| a conventional or basic form of corporate oranization |
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| a hybrid entity that is organized like a coproration with stockholders directors adn officers but taxed like a partnership with income and losses flowing through to the stockholders and taxed as their personal income |
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| limited liability company |
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Definition
| a hybrid organization that offers the same liability protection as a corporation but may be taxed as either a partnership or a corporation |
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Definition
| a legal entity typically formed by two people with similar interests such as suppliers or customers to reduce costs and gain economic power. a cooperatice has limited liability and unlimited life span an elected board of directors and an administrative staff; all profits are distributed to the member owners in proportion to their contributions. |
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| a group of cooperative members who unite for combined purchasing power |
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| individual producers who join together to compete more effectivly with large producers |
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| two or more companies that form an allience to pursue a specific project usually for a specified time period |
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| a form of business organization based on a business arrangment btwn a franchisor, which supplies the product or service concept and the franchisee who sells the goods or services of the franchisor in a certain geographic area. |
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| in a franchising arrangment, the company that supplies the product or service concept to the franchise |
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| in a franchise arrangment, the individual or company that sells the goods or services of the franchisor in a certain geographic area. |
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Term
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Definition
| a contract setting out the terms of a franchising agreement, including the rules for running the franchise, the services provided by the franchisor, and the financial terms. under the contract, the franchisee is allowed to use the franchisors business name, trademark, and logo. |
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| the combo of two or more firms to form one new company |
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| the purchase of a target company by another corporation or by an investor group, typically negotiated with the target company board of directors |
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| a merger of companies at the same stage in the production or sales process in the same industry, done to reduce costs, expand product offerings, or reduce competition |
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| a merger of companies at differant stages in the same industry; done to gain control over supplies of resources or to gain access to different markets. |
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| a merger of companies in unrelated businesses done to reduce risk |
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Definition
| a corporate take over financed by large amounts of borrowed money; can be initiated by outside investorsor the corporation managment. |
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