section 1
a business owned and and manages by a single individual
sole proprietorship
a business organization owned by two or more persons who agree on a specific division of responsibilies and profits
partnership
a legal entity or being owned by individual stockholders, each of whom has limited liability for the first depts
corporation
the portion of corporate profits paid out to stockholders
dividend
a large corporation that produces and sells its goods and services in more than oe country
multinational corporation
the ownership structure of a company or firm
business organization
a type of partnerships share equally in both responsibility and liability
general partnerships
a type of corporation that issues stock to only a few people, who are often family members
closely held corporations
a type of business with limited liability for owners, with the advantage of not paying corporate income tax
limited liability corporation
a business organization owned and operated by a group of individuals for their shared benefit
cooperative
authorization to operate a business issued by a local government
business license
a type of partnership in which all partners are limited partners
limited partnership
a type of corporation that sells stock on the open market
publicly held corporation
the combination of two or more firms competing in the same market with the same good or service
horizontal merger
a retail outlet owned and operated by consumers that sells merchandise to members at reduced prices
consumer cooperative
laws in a city or town that designate certain areas, or zones, for residential and business use
zoning laws
a partnership agreement that spells out each partners rights and responsibilities
articles of partnership
a formal contract issued by a corporation or other entity that includes a promise to repay borrowed money with interest at fixed intervals
bond
two or more firms involved in different stages of producing the same good or service
an agricultural marketing cooperative that helps members sell their products
producer cooperative
the legal obligation to pay debts
liability
a semi- independent business that pays fees to a parent company in return to sell a certain products or servine in a given area
business franchise
a type of business with limited liability for the owners, with advantage of not paying corporate income tax
certificate of incorporation
a business combination merging more than three businesses that produce unrelated products or services
conglomerate
an institution that functions much like a business, but does not operate for the purpose of generating profit
nonprofit organization