a business owned and managed by a single individual
a form of business organization in which each limited partner is liable for any debts only up to the amount of his or her investment in the company. the business's general partner is liable for all debts.
a partnership in which all owners share in operating the business and in assuming liability for the business's debts
an organization that is authorized by law to carry on an activity but treated as though it were a single person
The owner is personally and fully responsible for all losses and debts of the business
a jointly owned commercial enterprise (usually organized by farmers or consumers) that produces and distributes goods and services and is run for the benefit of its owners
a nonprofit financial institution that is owned by its members and organized for their benefit
Business organizations that provide goods and services without seeking to earn a profit.
an organization that seeks to increase the wages and improve the working conditions of its members
a corporation that has manufacturing or service operations in a number of different countries
combination of two or more firms producing the same kind of product
when firms involved in different steps of manufacturing or marketing join together
economies of scale
The phenomenon by which businesses can increase productivity more cheaply and quickly as they grow bigger.
A corporation consisting of a number of subsidiary companies or divisions in a variety of unrelated industries, usually as a result of merger or acquisition.
a document from the government incorporating an institution and specifying its rights
board of directors
a group of persons elected by the stockholders to manage a corporation
the combination of two or more commercial companies
the difference between total revenue and total expenses when total revenue is greater. The amount a worker receives after taxes and other payroll deductions.
process by which a union representing a group of workers negotiates with management for a contract
A group of people in a specialized occupation that works to improve the working conditions, skill levels, and public perceptions of the profession.
Better Business Bureau
A non-profit organization sponsored by local businesses to provide general information on companies, is one of these. It maintains records on consumer inquiries and complaints and sometimes offers various consumer education programs.