Show:
Types of Businesses
Type of Ownership
Terminology
Franchises
Corporations
100
Businesses that make money by buying a good from a producer and then selling it to a consumer at a higher price.
What are retail businesses
100
Business owned by just one person
What is a sole proprietorship
100
The owner is personally responsible for all debt to creditors
What is unlimited liability
100
Name of the person who buys a franchise
What is a franchisee
100
Corporations that are owned by the government
What is a crown corporation
200
Businesses whose purpose is not to make a profit but to meet a specific need of the community
What are non profit businesses
200
Common business ownership for dental offices and medical offices
What are partnerships
200
The details of a business relationship between two or more people
What is a partnership agreement
200
Name of the person / company who sells the right to use the business name and sell the products and services of the business
What is a franchisor
200
A corporation that usually has a maximum of 50 shareholders
What is a private corproation
300
Businesses that generate a profit by making items from raw materials and then sell them to consumers or other businesses.
What are manufacturing businesses
300
The owner keeps all the profits from the business to himself / herself.
What is a sole proprietorship
300
Term given to the "owners" of the company who invest in a company
What are shareholders
300
Contract between the franchisor and franchisee
What is a franchise agreement
300
Term used to describe how the debts of a corporation are not the responsibility of the owners
What is limited liability
400
Businesses that generate a profit by doing something for other businesses or consumers.
What are service businesses
400
A business that is owned and operated by a group of people with a strong common interest
What is a co-operative
400
The profit given to members of a co-op
What is a patronage fund
400
How franchisors make money from licensing their business
What is receiving a percentage of the franchisee's profits
400
Term used to describe the payout to shareholders of the company's profit
What is a dividend
500
Type of business a nail salon would be classified as
What both a retail and service business
500
Business often create this type of ownership to raise funds from investors instead of borrowing money from a bank
What is a corporation
500
A collection of several documents that outlines the rules and regulations by which a corporation is governed
What is a corporate charter
500
Is responsible for items such a market research, advertising and brand awareness
What is the franchisor
500
Term given to one shareholder giving his/her right to vote to another shareholder, or one shareholder voting in place of another
What is a proxy