Types of Businesses
Trusts
Legal Terms/Legal Documents
Liability
Shares
M&A
100
This method of setting up a business does not involve paying any registration fees and is relatively easy to set up. However, you have unlimited liability and the entity no longer exist when its owner dies.
What is a Sole Trader/proprietor
100
a person who derives advantage from something, especially a trust
What is a beneficiary
100
The money, property and assets that a partnership or business has.
What is Capital
100
This means a person is completely responsibility in paying back any debts their business may owe.
What is unlimited liability
100
The people who set up a company.
What are the Founders
100
When two companies combine to form a new company.
What is a merger
200
This means that the business is registered in its own name and has its own legal personality.
What is a corporation
200
the manager of a trust
What is a trustee
200
Another way of saying that your business has its own legal personality.
What is a Legal Entity
200
This means that the business is a separate legal entity. The business can go bankrupt but your personal assets are safe.
What is Limited Liability
200
The people who own part of a publicly listed company
Who are Shareholders
200
When companies that sell similar products merge together
What is a horizontal merger
300
This type of company - which has its own legal personality - must end with the abbreviation 'LTD' and cannot offer shares in the company to the public.
What is a Private Limited Company
300
an informal term for person, typically a young adult, who is independently wealthy and does not need to work to earn a living.
What is a trust fund baby
300
A latin phrase meaning "among other things"
What is Inter Alia
300
This means that partners are responsible both individually and together as a group. If the partnership owes money to someone, that person can demand it from individual partners or each partner.
What is Joint And Several Liability
300
The process of offering shares of a private corporation to the public in a new stock issuance.
What is an IPO (Initial Public Offering)
300
Occurs when an entity takes control of a company without the knowledge and against the wishes of the company's management.
What is a hostile takeover
400
This type of company - which has its own legal personality - is owned by shareholders and managed by directors.
What is a Public Limited Company
400
A specific type of trust that families can use to create a financial legacy for the future.
What is a family trust
400
Internal documents and rules to specify the regulations for a company's operations and define the company's purpose.
What are the articles of association?
400
The process by which a company's assets are collected and sold to pay off its debts.
What is winding up / liquidation
400
Apple has 15,405,856,000 outstanding shares. The market value of Apple's share on June 7 was $196.89. If I multiplied these numbers, I get this business term.
What is Market Capitalization
400
A single company that has a controlling interest in another company or companies.
What is a parent company
500
This type of company is similar to a partnership with the added benefit of limited liability. Very popular with law firms!
What is a Limited Liability Partnership (LLP)
500
A company that acts as the trustee of a trust
What is a corporate trustee
500
The longest piece of legislation ever to be passed in the UK which sets out the basic procedures and systems for how a company should operate.
What is the Companies Act 2006
500
The actual amount one pays for a share.
What is Market Value
500
When a company is removed from a stock exchange.
What is delisting
600
A type of business that is not subject to corporate tax (in the US). Instead this type of business can take advantage of 'flow-through taxation' meaning the owners only pay income tax.
What is a partnership
600
A company that helps to limit liability in a business structure. This company owns assets like stocks, bonds, and other companies in contrast to a trust company which manages assets entrusted to it.
What is a holding company
600
This actor portrayed a man guilty of committing these crimes (2 possible answers)
What is Money laundering
What is Fraud (securities fraud)
600
The part of a company's profit it pays to its shareholders.
What is Dividend
600
An unsolicited acquisition offer made to a public company, usually at a premium share price.
What is a bear hug
700
One of the most flexible types of businesses. This type of business combines aspects of both partnerships and corporations. They retain the tax benefits of sole proprietorships and the limited liability of corporations.
What is a Limited Liability Company (LLCs)
700
What is the name of this publicly traded company registered in the US that recently reached a market capitalisation of $3 trillion?
What is Nvidia.
700
A means of defending against hostile takeovers. Another name for a shareholder rights plan. Its name takes inspiration from spies.
What is a poison pill