Sole Proprietorship
A business owned and operated by a single person.
sole proprietorship
A business that two or more people own and operate together
partnership
AKA shareholders
stockholders
Association of workers organized to improve wages and working conditions
labor union
A union tactic in which striking workers walk with signs that express their grievances
picketing
To seek information or advice from a person or resource.
consult
To explain; to make something more understandable
clarify
The "backbone" of an organization.
employees
State laws forbidding unions from forcing workers to join
right-to-work-laws
When management closes a workplace to prevent union members from working
lockout
The money needed to run a business or expand it.
financial capital
A type of business owned by many people but treated by law as though it were a person
corporation
A company that has permission to sell the supplier's goods or services in a particular area in exchange for a sum of money
franchise
Situation
circumstance
A court order to stop some kind of action
Injunction
Legal responsibility for the business.
liability
A government document granting permission to organize a corporation
charter
A business that does not intend to make a profit for the goods and services it provides.
nonprofit organization
Process by which unions and employees negotiate the conditions of employment
collective bargaining
Situation in which union and company officials bring in a third party to try to help them reach an agreement
mediation
This person receives all the profits in a sole proprietorship.
owner
The people elected by the shareholders of a corporation to act on their behalf
board of directors
Oversees a corporation's daily business
president
when workers deliberately stop working in order to force an employer to give in to their demands
strike
Situation in which union and company officials submit the issues the they cannot agree on to a neutral third party for a final decision
arbitration