Term
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Definition
| a corporation chartered in another nation doing business in the state. |
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Term
| articles of incorporation |
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Definition
| application form from the secretary of state’s office filed for incorporating a business. |
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Term
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Definition
| a partnership agreement usually express (may be written or oral) |
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Term
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Definition
| basic form of corporate ownership payable to shareholders as dividends at par or no-par value. |
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Term
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Definition
| a legal entity that is treated as an artificial person by the law with limited liability of owners. |
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Term
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Definition
| courts will not allow denial of existence of a corporation when a situation of some party’s willingness to treat a person as a corporation occurs. |
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Term
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Definition
| does not exist in law but exists in fact. |
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Term
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Definition
| lawfully exists after all formalities have been completed. |
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Term
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Definition
| change in the relationship of the owners that occurs when one owner stops being associated with the business. |
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Term
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Definition
| profit paid through common stock to the shareholders, based on the corporation’s performance. |
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Term
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Definition
| a corporation chartered in a particular state. |
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Term
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Definition
| is one who is neither known to the public as a partner or active in management. |
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Term
| employer identification number |
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Definition
| assigned by IRS for income tax purposes when employees are hired. |
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Term
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Definition
| proprietor uses any name but his/her own name (made-up). |
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Term
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Definition
| a corporation that does business in one state but is chartered in another state. |
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Term
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Definition
| one which all the partners assume full personal liability for debts of the firm. |
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Term
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Definition
| signors of the Articles of Incorporation. |
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Term
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Definition
| all the owners of the business must be sued together in the event of a lawsuit. |
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Term
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Definition
| partnership in which one or more persons or firms combine their resources to complete one complex project. |
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Term
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Definition
| the ending of a corporation. |
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Term
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Definition
| the process by which one corporation blends into another existing corporation. |
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Term
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Definition
| a corporation organized for a social, charitable, or educational purpose. |
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Term
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Definition
| occurs because someone does or says something that leads a third party to believe that a co-ownership exists. |
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Term
| partnership by proof of existence |
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Definition
| the way two people conduct their business together. |
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Term
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Definition
| two or more competent parties combine their money, labor and skills for the purpose of carrying on a lawful business. |
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Term
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Definition
| one major advantage of corporations, which means the corporation can continue indefinitely with new owners. |
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Term
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Definition
| a type of stock that entitles its owner to a stated dividend. |
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Term
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Definition
| a corporation established for business or charitable reasons. |
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Term
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Definition
| person who carries out the incorporation process and is personally liable for contracts entered into before the corporation is formed. |
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Term
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Definition
| a corporation established for governmental purpose. |
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Term
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Definition
| one who is not known to the public as a partner yet participates in management. |
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Term
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Definition
| certain amount of money paid for each single unit of ownership owned. |
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Term
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Definition
| a person who owns one or more shares of stock. |
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Term
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Definition
| one who may be known to the public as a partner but takes no active part in management. |
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Term
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Definition
| a form of business that is owned and operated by one person |
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Term
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Definition
| a co-ownership of partnership property. |
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Term
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Definition
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Term
| Uniform Partnership Act (UPA) |
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Definition
the law that governs most business associations of two or more
persons. |
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Term
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Definition
| business owner is responsible for all losses experienced by the business. |
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