Term
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Definition
| Companies that share responsibilities and debts. |
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Term
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Definition
| One person is responsible for all the responsibilities and debts. |
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Term
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Definition
| A company ends with the death of the sole proprietorship or a partner. |
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Definition
| A company operates forever until it is formally dissolved. |
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Term
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Definition
| Unincorporated business with two or more co-owners. |
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Term
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Definition
| An unincorporated business with one owner who pays personal income tax on profits from the business. |
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Term
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Definition
| enjoy rights to the partnership's cash flow, but are not liable for company obligations. |
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Term
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Definition
| An incorporated organization which exists for educational or charitable reasons. |
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Term
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Definition
| The company that allows an individual (known as the franchisee) to run a location of their business. |
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Term
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Definition
| One that has been granted the right by a corporation to sell its product or service within a particular area. |
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