MCE-Business Types

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franchisor

a company that develops a product concepts and sells others the rights to make and sell the products

vertical merger

joining of two companies involved in different stages of related business

horizontal merger

joining of two firms in the same industry

corporation

legal entity that is separate and distinct from its owners

partnership

legal form of business with two or more owners

double taxation

must file and pay taxes on corporate level and individual level

Franchise

the right to use a specific business's name and sell its products or services in a given territory

s-corporation

unique government creation that looks like a corporation but its taxed like sole proprietorships and partnerships

conglomerate merger

joining of firms in completely unrelated industries

small business administration

US government agency that advises and assists small businesses by providing management, financial advice, and loans

franchise agreement

arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell a product or service to others in a given territory

cooperative

business owned and controlled by the people who use it—producers, consumers, or workers with similar needs who pool their resources for mutual gain

crowdfunding

donation based or debt-investment

Flow-through entity

income is passed straight to its shareholders or owners

venture capitalists

individuals or companies that invest in new business in exchange for partial ownership of those businesses

Accquisition

one company's purchase of the property and obligations of another company

sole proprietorship

owned and managed by oneself

general partner

owner who has unlimited liability and is active in managing the firm

limited partner

owner who invests money in business but does not have any management responsibility or liability for losses beyond investment

consumer market

people with unsatisfied wants and needs who have both the resources and willingness to buy

franchisee

person who buys a franchise

angels

private individuals who invest their own money in potentially hot new companies before they go public

limited liability

responsibility of a business's owners for losses only up to the amount they invest

merger

result of two firms forming one company

c-corporation

state charted legal entity with authority to act and have liability separate from its owners


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