Term
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Definition
| Person who organizes, manages, and assumes the risk of a business. |
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Definition
| Economic system where the people own the F.O.P. |
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Term
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Definition
| Inventions that are new and useful to society. |
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Term
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Definition
| all items to which a business or household holds legal claim |
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Term
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Definition
| supply of items used in business especially those for sale |
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Term
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Definition
| legal responsibility of an owner for all debts or claims against a business |
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Term
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Definition
| Income received from the sale of goods/services |
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Term
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Definition
| all costs that a business must pay to operate |
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Term
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Definition
| the difference between revenues and expenses |
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Term
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Definition
| Business owned and operated by one person |
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Term
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Definition
| Business owned by two or more people |
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Term
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Definition
| Type of business organization owned by many people but treated by law as though it were a person |
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Term
| Articles of Incorporation |
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Definition
| document listing basic information about a corporation |
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Term
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Definition
| a set of rules describing how stock will sold and dividends paid |
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Term
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Definition
| License to operate granted to a corporation by the state where it is established |
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Term
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Definition
| a group of individuals elected to manage and control a corporation |
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Term
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Definition
| Share of ownership in a corporation that entitles the buyer to a certain portion of future profits and assets |
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Term
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Definition
| requirement in which an owners responsibility for a company's debts is limited to the size of the owners investment |
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Term
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Definition
| portion of a corporations profits paid to its stockholders |
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Term
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Definition
| special form of partnership in which one or more partners have limited liability but no voice in managing the company |
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Term
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Definition
| partnership setup for a specific purpose for a short period of time |
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Term
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Definition
| the legal combination of two or more companies that become one corporation |
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Term
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Definition
| contract in which one business sells another business the right to use the franchisor's name and sell its product |
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Term
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Definition
| firms that do business and have offices in many countries |
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Term
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Definition
| large corporation make up of smaller corporations dealing in unrelated businesses |
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