Words and Terms
Owning your a business by yourself
Sole Prop
When a group of workers join together to gain benefits and better working conditions.
UNION
This is when the stock price of a corporation goes with the ups and downs of the market
Cyclical
Own a business with 2 or more people
Partnership
Dividend
Big businesses in the late 1800's, were run by Robber barons using this illegal way of cornering the market by acquiring other businesses.
Monopoly
Owning a business where you legally separate the actions of the business from the owner.
Corporation
70% of all businesses in America are this...
Sole Prop
A corporation that purchases 4 completely separate industries to combine is called
Conglomerate
Restaurant chains that allows outside entrepreneurs to manage locations independently under the guidelines of the that corporation
Franchise
If one or more members of a partnership are shielded from unlimited liability, but one or more members are not protected
Limited Partnership
One reason why a sole prop or partnership incorporate their company?
To protect their personal assets from the corporation in case of lawsuits or bankruptcy
2 advantages and 2 disadvantages of a sole proprietorship
ADV:
DISADV:
2 advantages and 2 disadvantages of a general partnership
2 ADV
2 DISADV
2 advantages and 2 disadvantages of a corporation
ADV:
DISADV: