Types of businesses
If all of the individuals who own a business share unlimited liability for the losses, they are a part of...
General Partnership
when a corporation is formed, the government considers it an...
Artificial Being
Wendy's sells the right to operate its restaurant. This is a...
Franchise
Someone wants to run a business, but is unsure they have the skills to be successful, he might chose this...
Business-Format Franchise
Illegal organizations that emphasize high fees from product sellers
Pyramid Schemes
"I used all my savings and I'm personally liable for all the debts." This is an example of what business?
Sole Proprietorship
A type of corporation that may be owned by a few people, not the general public
Private/close
Sam works out of his homes selling high quality knives. He earns a commission on his team's work.
Multi-level Marketing
Franchisee can choose the name of the business when selling another's product
Product trade-name
A person who has creative ability wishes to partner with a friend with selling expertise and another friend who manages well. They may start a...
Partnership
A company decides to sell stock to raise capitol. The would start a...
Corporation
Corporation that was developed to help small businesses by taxing them as individuals.
S corporation
Sports Club is the only company with written permission to use a logo on their t-shirts
Licensing Agreement
The local pizza shop is run inside the local supermarket. This is known as...
Piggyback Franchise
If all individuals who own a business share unlimited liability for the losses
General Partnership
Protects innocent partners from another's malpractice
Limited Liability Partnership (LLP)
Corporation that sells millions of shares and provides end of year reports.
C corporation
Short term agreement that works to the benefit of both companies
Joint Venture
Individual who helps franchises find franchisees
Master Licensee
Two individuals discuss owning a flower shop, but one just wants to fund the project, not do the day to day. they may form a...
Limited Partnership
Hybrid company that protects the owner's property from being taken
Limited Liability Company (LLC)
Company that has a mission to help society instead of gain capitol
Non-profit
What do business owners consider when they select a business ownership structure?
Personal circumstances, financial needs, and type of business
When a business owner pays money to use a franchise he pays a...
Royalty Fee
Hybrid structures refer to their owners as...
Members