Term
|
Definition
| a business organisation which is run and owned jointly by the members, who have equal voting rights |
|
|
Term
|
Definition
| a binding legal document which states the formal rights of partners |
|
|
Term
|
Definition
| the process of a company going public |
|
|
Term
|
Definition
| an agreement where a business (the franchisor) sells the rights to other businesses (the frachnisees) allowing them to sell products or use the company name |
|
|
Term
|
Definition
| a public limited company which owns enough shares in a number of other companies to exert control over them |
|
|
Term
|
Definition
| a business organisation which has a seperate legal entity from those of its owners |
|
|
Term
|
Definition
| where a business owner is only liable for the original amount of money invested in the business |
|
|
Term
| Limited liability partnership |
|
Definition
| a partnership where all partners have limited liabilty |
|
|
Term
|
Definition
| a partnership where some members contribute capital and enjoy a share of profit, but do not participate in the running of the business. At least one partner must have unlimited liability |
|
|
Term
|
Definition
| businesses owned by members who are costumers, rather than shareholders |
|
|
Term
|
Definition
| a body set up to meet a need |
|
|
Term
|
Definition
| a business organisation which is usually owned by between 2-20 people |
|
|
Term
|
Definition
| businesses that are owned by individuals or groups of individuals |
|
|
Term
| Sole trader or sole proprietor |
|
Definition
| a business organisation which has a single owner |
|
|
Term
|
Definition
| where the owner of a business is a personally liable for all business debts |
|
|
Term
|
Definition
| a business organisation owned by employees who contribute to production and share in profit |
|
|
