Term
| A _____ _____ is an arrangement whereby someone with a good idea for a business sells the rights to use the business name and to sell a product or service to others in a given territory |
|
Definition
|
|
Term
| In a(n) _____ one company purchases the property and obligations of another company |
|
Definition
|
|
Term
| A _____ is a company that develops a product concept and sells others the rights to make and sell the products |
|
Definition
|
|
Term
| A business proposition that joins forms in completely unrelated industries is called a(n) _____ _____ |
|
Definition
|
|
Term
| An agreements such as a(n) _____ _____ is a partnership with one or more general partners and one or more limited partners |
|
Definition
|
|
Term
| A(n) _____ _____ _____ looks much like a corooration in that it acts like a corporation and is traded on a stock exchange but is taxed like a partnership and thus avoids corporate income tax |
|
Definition
| Master limited partnership (MLP) |
|
|
Term
| A legal entity with authority to act, a(n) _____ has liability separate from its owners |
|
Definition
|
|
Term
| A partner is called a _____ _____ when she has invested money in a business but does not have any management responsibility or liability for losses beyond the investment |
|
Definition
|
|
Term
| A company that is similar to an S corporation, but without the special eligibility requirement is called a(n) _____ _____ _____ |
|
Definition
| Limited liability company (LLC) |
|
|
Term
| A _____ is a business that is owned and controlled by the people who use it- producers,consumers or workers with similar needs who pool their resources for mutual gain |
|
Definition
|
|
Term
| A partnership is called a(n) _____ _____ when all owners share in operation the business and in assuming liability for the business's debts |
|
Definition
|
|
Term
| An attempt by employees, management, or a group of investors to purchase an organizaiton primarily through borrowing is called a(n) _____ _____ |
|
Definition
|
|
Term
| A _____ _____ _____ is one that limits partners' risk of losing their personal assets to only their own acts and omissions and to the acts and omissions of people under their supervision |
|
Definition
| Limited liability partnership |
|
|
Term
| A state-charted legal entity with authority to act and have liability separate from its owners is a _____ _____ |
|
Definition
|
|
