Forms of Business Ownership
This type of business is owned by one person (proprietor), and derives its funds from the owner’s savings, friends, family, or from a bank loans. The owner receives all profits OR responsible for all losses and debts (unlimited liability).
What is Sole Proprietorship?
This type of corporation has few shareholders, and shares are not sold on the stock exchange.
What are private corporations?
This is the name for a business that licenses the rights to its name, operating procedure, designs, and business expertise to another business.
What is a franchiser?
This type of business activity involves a business performing a task for consumers or other businesses.
What is a service?
Chapters and Starbucks sharing locations was an example of this business structure.
What is a strategic alliance?
This type of corporation is owned by the workers or members who buy the products or use the services that the business offers. It is motivated by service and not by profit.
What is a co-operative?
This type of corporation is owned by the federal or provincial government.
What is a crown corporation?
This is the term for a business that acquires licenses the rights to another business' name, operating procedure, designs, and business expertise.
What is a franchisee?
This type of business activity refers to an organization that exists to meet the needs of a community.
What is a not-for-profit?
In this type of business structure, a business project is created that matches the skills of two individuals or businesses for mutual benefit.
What is a joint venture?
This type of business is owned and operated by 2 or more people, with terms of the partnership agreement recorded (may be limited or unlimited in liability).
What are partnerships?
Mountain Equipment Co-op was an example of what type of corporation?
What is a co-operative?
This is the term for when a business relocates some of a company’s operations to another country.
What is offshoring?
This type of business activity refers to a business that buys and sells a product.
What is retail?
This type of business structure forms when two or more companies join together.
What is a merger?
These are small portions of corporate ownership that are owned publicly.
What are stocks/shares?
Lululemon Athletica is an example of what type of corporation?
What is a public corporation?
This is the fee a franchisee must pay the franchiser when it owns and operates a franchise location.
What is a franchise fee?
First Choice (hairdressers) is an example of this type of business activity.
What is a service?
This type of business structure involves two or more businesses agreeing to commit particular resources to achieve a common set of objectives.
What is a strategic alliance?
This type of business (=artificial “person”) is owned by its shareholders (=limited liability) who appoint a board of directors to run the corporation.
What are corporations?
This type of corporation has a large number of shareholders, and shares can be sold on the stock exchange.
What is a public corporation?
This is the term for the ability of consumers to recognize an identifying characteristic of one company versus a competition.
What is brand recognition?
This type of business activity refers to a business that makes a product from raw materials, or component parts.
What is manufacturing?
This business structure allows a business to achieve an international presence by buying the rights to a chain operation from the franchiser.
What is an international franchise?