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30 Cards in this Set

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  • Back
Small Business Administration
Federal Agency charged with assisting small business
small business
independently owned and managed business that does not dominate its market
entrepreneur
businessperson who accepts both the risks and the opportunities involved in creating and operating a new business venture
business plan
document in which the entrepreneur summarizes her or his business strategy for the proposed new venture and how that strategy will be implemented
venture capital company
group of small investors who invest money in companies with rapid growth potential
small-business investment company
government-regulated investment company that borrows money from the SBA to invest in or lend to a small business
small business development center
sba program designed to consolidate information from various disciplines and make available to small businesses
franchise
arrangement in which a buyer (franchisee) purchases the right to sell the good or service of the seller (franchiser)
sole propietorship
business owned and usually operated by one person who is responsible for all of its debts
unlimited liability
legal principle holding owners reponsible for paying off all debts of a business
general partnership
business with two of more owners who share in both the operation of the firm and the financial responsibility for its debts
limited partnership
type of partnership consisting of limited partners and an active or managing partner
limited partner
partner who does not share in a firm's management and is liable for its debts only to the limits of said partners investment
general (or active) partner
partner who actively manages a frim and who has unlimited liability for its debts
corporation
business that is legally considered an entity separate from its owners and is liable for its own debts; owners liability extends to the limits of their investment
limited liability
legal principle holding investors liable for a firm's debts only to the limits of their personal investments
tender offer
offer to buy shares made by a prospective buyer directly to a target corporation's shareholders, who then make individual decisions about whether to sell
double taxation
situation in which taxes mayh be payable both by a corporation on its profits and by shareholders on dividend incomes
closely held (private) corporation
corporation whose stock is held only by a few people and is not available for sale to the general public
publicly held corporation
corporation whose stock is widely held and available for sale to the general public
s corporation
hybrid of a closely held corporation and a partnership, organized and operated like a corporation but treated as a partnership for tax purposes
limited liability corporation
hybird of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability
professional corporation
form of ownership allowing professionals to take advantage of corporate benefits while granting them limited business liability and unlimited professional liability
mulitnational or transnational corporation
form of corporation spanning national boundaries
corporated governanve
roles of shareholders, directors, and other managers in corporate decision making
stockholder or shareholder
owner of shares of stock in a corporation
stock
share of ownership in a corporation
preferred stock
stock that offers its holders fixed dividends and priority claims over assets but no corporate voting rights
common stock
stock that pays dividends and guarentees corporate voting rights but offers last claims over assets
board of directors
governing body of a corporation that reports to its shareholders and delegates power to run its day-day operations while remaining responsible for sustaining its assets