Types of Business
A state-chartered legal entity with authority to act and have liability separate from its owners.
Conventional Corporation
The right to use a specific business's name and sell its products or services in a given territory.
Franchise
The joining of two firms in the same industry.
Horizontal Merger
One company's purchase of the property and obligations of another company.
Acquisition
Insiders who report illegal or unethical behavior.
Whistleblowers
A legal form of business with two or more owners.
Partnership
A person who buys a franchise.
Franchisees
The result of two firms forming one company.
Merger
An owner (partner) who has unlimited liability and is active in managing the firm.
General Partner
A business's concern for the welfare of society.
Corporate Social Responsibility (CSR)
A business that is owned, and usually managed, by one person.
Sole Proprietorship
A company that develops a product concept and sells others the rights to make and sell the products.
Franchsor
The joining of firms in completely unrelated industries.
Conglomerate Merger
The responsibility of business owners for all of the debts of the business.
Unlimited Liability
The dimension of social responsibility that includes charitable donations.
Corporate Philanthropy
An owner who invests money in the business but does not have any management responsibility or liability for losses beyond the investment.
Limited Partner
The joining of two companies involved in different stages of related businesses.
Vertical Merger
The joining of two companies involved in different stages of related businesses.
Vertical Merger
A unique government creation that looks like a corporation but is taxed like sole proprietorships and partnerships.
S corporation
An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends.
Insider Trading