Sole Proprietorships
Business owned by only one person.
What is sole proprietorship?
A business that two or more people own and operate together.
What is partnership?
Inc. stands for this.
What is incorporated?
Association of workers organized to improve wages and working conditions.
What is a labor union?
The obligation businesses have to pursue goals that benefit society as well as themselves.
What is social responsibility?
Money needed to run a business or expand it.
What is financial capital?
This document states the role of each partner, partners can be removed/added and partnership can end.
What is articles of partnership?
Document that gives a group of people permission to form a corporation.
What is a charter?
State laws forbidding unions from forcing workers to join.
What are right-to-work laws?
An institution created to promote the public good.
What is a foundation?
These people make decisions without having to consult with other owners.
Who are sole proprietors?
This type of partner owns a share of the business but have not direct involvement in management.
What is a limited partner?
People elected by the shareholders of a corporation to act on their behalf.
What is board of directors?
Process by which unions and employers negotiate the conditions of employment.
What is collective baragaining?
Corporations give away this amount each year.
What is 14 billion?
Legal responsibility.
What is liability?
The initials LLP stand for this.
What is limited liability partnership?
A company that has permission to sell the supplier's goods or services in a particular area in exchange for a sum of money.
What is a franchise?
A union tactic in which striking workers walk with signs that express their grievances.
What is picketing?
Very important, especially for its effect on something.
What is crucial?
Sole proprietors might have trouble hiring these.
Who are skilled workers?
An advantage of partnership is that is can do this to a bank easier than sole proprietorship.
What is borrow money?
A business that does not intend to make a profit for the goods and services it provides.
What is a nonprofit organization?
When management closes a workplace to prevent union members from working.
What is a lockout?
The process of making business deals or conditions more visible to everyone.
What is transparency?