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32 Cards in this Set
- Front
- Back
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ACQUISTION
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OCCURS WHEN A COMPANY THE ASSETS AND ASSUMES THE LIABILITIES OF ANOTHER FIRM.
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FRANCHISE
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a contract that establishes a relationship between a supplier and a dealer of a good and service.
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FRANCHISEE
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THE PURCHASER OF A FRANCHISE
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FRANCHISOR
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ARE COMPANIES THAT SELL FRANCHISES TO INDEPENDENT BUSINESS PEOPLE.
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LIMITED LIABILITY COMPANY
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the firm is goverend under an operating agreement resembling a partnership, except that each partners liability for the actions of the other owners is limited.
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DOMESTIC CORPORATION
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a corporation that operates in the state in which it was chartered
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CORPORATE CHARTER
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is the legal document granted by the state of incorporation that formally establishes a corporation.
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CONGLOMERATE MERGER
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is a merger between firms whose businesses are unrelated.
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HOME-BASED BUSINESS
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operated from the residence of the business owner, is a widely used and low-cost option for new firms.
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SMALL BUSINESS ADMINISTRATION
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is the principle federal government agency that aids, counsels and assists small businesses.
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COMMON STOCKHOLDERS
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the true owners of a corporation,who are employed to elect the broad of directors.
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HORIZONTAL MERGER
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one firm combines with another firm in the same industry.
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SMALL BUSINESS
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is generally defined as any firm that is independently owned operated.
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CORPORATION
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is legal organization whose assets and liabilities are seperate from those of its owner.
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SOLE PROPRIERTORSHIP
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a business that is owned by one person.
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COOPERATIVE
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is organization in which the owners operate collectively.
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ALIEN CORPORATION
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A CORPORATION INCORPORATED IN ANOTHER COUNTRY THAT DOES BUSINESS IN THE US
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PREFERRED STOCK
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HAVE THE FIRST CLAIM TO THE CORPORATE ASSETS AFTER ALL DEBTS HAVE BEEN PAID.
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PUBLIC OWNERSHIP
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MEANS THAT AN ORGANIZATION IS OWNED AND OPERATED BY A GOVERNMENT
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CLOSELY HELD CORPORATION
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A CORPORATION WITH RELATIVELY FEW STOCKHOLDERS, WHOSE STOCK IS GENERALL UNAVAILABLE TO OUTSIDERS.
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BOARD OF DIRECTORS
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THE GOVERNING AUTHORITY OF A CORPORATION, ELECTED BY THE COMMON STOCKHOLDERS
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OUTSIDE DIRECTORS
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NOT EMPLOYED BY THE ORGANIZATION
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S CORPORATIONS
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CAN ELECT TO BE TAXED AS PARTNERSHIPS WHILE MAINTAINING THE ADVANTAGES OF CORPORATIONS.
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VERTICAL MERGER
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WHEN FIRMS AT DIFFERENT LEVELS IN THE CHANNEL OF DISTRIBUTION DECIDE TO COMBINE INTO ONE COMPANY.
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INSIDE DIRECTOR
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EMPLOYED BY THE CORPORATION
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MERGER
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WHEN TWO OR MORE FIRMS COMBINE TO MAKE ONE COMPANY
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SET A SIDE PROGRAMS
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TO ENSURE THAT SMALL BUSINESSES WILL BE ABLE TO GET PART OF THE FEDERAL GOVERNMENTS BUSINESS BY REQUIRING THAT ALL PART OF A CERTAIN GOVERNMENT CONTRACTS BE GIVEN TO SMALL BUSINESSES.
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BUSINESS INCUBATOR
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AN ORGANIZATION THAT PROVIDES LOW-COST COMMON FACILITIES AND SERVICES TO SMALL, START UP BUSINESSES.
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SMALL BUSINESS INVESTMENT COMPANY (SBIC)
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IS A FEDERALLY LICENSED INVESTMENT GROUP THAT MAKES LOANS TO SMALL FIRMS.
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BUSINESS PLAN
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WRITTEN DOCUMENT THAT PROVIDES A STATEMENT OF A COMPANYS GOALS AND METHODS BY WHICH IT WILL ACHIEVE THOSE GOALS.
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FOREIGN CORPORATION
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A CORPORATION THAT HAS BEEN INCORPORATED IN A STATE OTHER THAN THE ONE IN WHICH IT IS OPERATING
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JOINT VENTURE
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A PARTNERSHIP BETWEEN COMPANIES FORMED FOR A SPECIFIC UNDERSTAKING
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