E OBJ 1.05 Vocab

A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)

A contractual agreement between a parent company and a franchisee to distribute goods or services

A form of business ownership in which members of a corporation experience limited liability; there is limited taxation on company income and limited life for the business entity

A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes

A contractual agreement between a parent company and a franchisee to distribute goods or services

Two individual businesses that combine to form one organization

A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes

A business owned by one person who receives all the profits from the business and takes all the risks

A form of business ownership in which members of a corporation experience limited liability; there is limited taxation on company income and limited life for the business entity

A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes

A franchise arrangement based on an independent sales relationship between a franchisor and franchisee to stock and sell a specific line of goods; also known as dealership or exclusive distributorship

A business owned by one person who receives all the profits from the business and takes all the risks

Two individual businesses that combine to form one organization

A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes

A form of business ownership in which the business is owned by two or more persons

A business owned by one person who receives all the profits from the business and takes all the risks

A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes

A form of business ownership in which the business is owned by two or more persons

A form of business growth in which a company extends its operations or facilities using new capital or reinvested funds

A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)

A form of business ownership in which the business is owned by two or more persons

A contractual agreement between a parent company and a franchisee to distribute goods or services

A form of business growth in which a corporation acquires many smaller companies

A business owned by one person who receives all the profits from the business and takes all the risks

A business owned by one person who receives all the profits from the business and takes all the risks

A form of business ownership in which the business is owned by two or more persons

A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)

A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes