Sole Proprietorships
Business owned and managed by a single individual
sole proprietorship
A certificate of ownership in a corporation
stock
neutral party deciding a case between employer and employee
arbitration
organized work stoppage intended to force an employer to address union demands
strike
A partner who owns a share of the company
equity partner
Advantage of sole proprietorships
Easy to Start and Stop
Control
Easy to Stop and Start
legal entity owned by individual stockholders
corporation
the integration of world systems like corporations, governments, and people groups
globalization
organization of workers to better working conditions
labor union
Type of ownership that is semi-independent but must go along with the rules of the parent company
franchise
Legal obligation to pay debts
liability
state license to incorporate
corporate charter
companies contracting other companies to do a specific job for them
outsourcing
process in which union and company management meet to negotiate a new labor contract
collective bargaining
partners share equally in responsibility and liability
general partnership
Laws that designate certain areas or zones for residential and business use
zoning laws
Three or more unrelated businesses are combine who produce totally unrelated goods or services.
conglomerate
moving a companies operations to a less expensive country
offshoring
2018 Supreme Court case allowing workers to NOT pay union dues
Janus v. AFSCME
Term meaning to spread stock interests through different industries
diversification
Payments to employees other than wages, such as paid vacation or retirement pay.
Bring benefits
Two or more firms involved in different stages of the production process come together.
merger
this allowed states to pass right to work laws
Taft-Hartley Act
Act covering private company labor negotiations
National Labor Relations Act
Most expensive stock ever
Berkshire Hathaway (Warren Buffett)