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26 terms

Business Ownership & Registration

2nd
STUDY
PLAY
Sarah Smalley
2nd
Business Ownership
individual or groups that own a business and its legal entites
Legal Entity
law which allows a group of people to conduct business as a single unit, for example a group ownership
Sole Proprietorship
business owned and operated by one individual
Partnership
legal agreement between two or more people to be responsible for a business
General Partnership
partners share equal liability in the profits and losses of the business
Limited Partnership
partners have an unequal share and liability in the business; they are responsible only for the amount they invested
Corporation
separate legal entity which forms a board to act as governing bodies
Separate Legal Entity
business which is granted a charter establishing its own rights, privileges and liabilities distinct from those of its members
Franchise
the right or license to sell a company's product or service at a designated location
Franchisor
a business that leases its trade name and operating systems to another person
Franchisee
person or persons who pay fees to a company to operate a business under the franchisor's trade name
Capital
wealth in the form of money or property; used in a business by a person, partnership or corporation
Mentor
someone who has business experience and will aid in guiding your company to success
Microlending
loans which are in small amounts
Investors
groups of individuals who invest their money in various types of companies in search of making a profit
Debt Capital
money borrowed from a business or investor that must be repaid over time with interest
Secured
guaranteed by collateral; items pledged making sure debt is repaid
Equity Capital
money rasied by a business or investor in exchange for a share of ownership of the company
Angel Investors
wealthy individuals who seek high returns through private investments
Financial Cushion
money in savings which can pay expenses when income may not be accumulating
Loans
amounts of money borrowed which will accumulate interest
Domain Names
unique names which identify internet sites and businesses
Patents
the grants of intellectual property rights to the inventor
Trademarks
words, symbols, names or devices used to secify goods and to differentiate them from others
Copyrights
protections provided to authors of original work