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Definition
| is an enterprise that produces goods or provides services, usually in order to make a profit |
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| is a business organization owned and controlled by one person |
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| is a situation where a business closes if the owner dies, retires, or leaves for some other reason |
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| means that a business owner is responsible for all the business's losses and debts |
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| is a business co-owned by two or more partners who agree on how responsibilities, profits, and losses of that business are divided |
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| partners share management of the business and each one is liable for all business debts and losses |
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| is one in which at least one partner is not involved in the day-to-day running of business and is liable only for the funds he or she has invested |
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| limited liability partnership (LLP) |
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Definition
| all partners are limited partners and not responsible for the debts and other liabilities of other partners |
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| is a business owned by stock-holders, who own the rights to the company's profits but face limited liability for the company's debts and losses |
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| is a share of ownership in a corporation |
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| is part of a corporation's profit that is paid out to stockholders |
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| issues stock that can be publicly traded |
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| contols who can buy or sell its stock |
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| is a contract issued by a corporation that promises to repay borrowed money, plus interest, on a fixed schedule |
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| means that a business owner's liability for debts and losses of the business its limited |
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| means that a corporation continues to exist even after an owner dies, leaves the business, or transfers his or her ownership |
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Definition
| is the combining of two or more companies that produce the same product or similar products |
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| is the combining of companies involved in different steps of producing or marketing a product |
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| is a business composed of several companies, each one producing unrelated goods or services |
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| multinational corporation |
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Definition
| is a large corporation with branches in several countries |
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| is a business that licenses the right to sell its products in a particular area |
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| is a semi-independent business that buys the right to run a franchise |
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| is a business operated for the shared benefit of the owners, who also are its customers |
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| is a business that aims to benefit society, not to make a profit |
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