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12 Cards in this Set

  • Front
  • Back
sole propietorship
a business that is owned by one person
partnership
a business managed by a small group not more than 2 or 3
corporation
a business owned by a number of people and operated under written permission from the state in which it is located
certificate of incorporation
the written permission for a corporation to be operated
shareholders
buying shares of stock, you become an owner
board of directors
a group with responsibility to guide the operations of a corporation
dividend
the part of profits that each shareholder recieves
franchise
a written contract granting permission to someone else's product or service in a perscribed manner
franchisee
a person or group who recive a franchise from a parent company to sell its products or services
franchisor
the other percentages sent to the parent company granting the franchise
cooperative
a business owned by the members it serves and is managed in thier intrest
municipal corporation (or municipality)
is an incorporated town with its own officials, its own schools, police and fire department, and provides street repairs, street lighting, and other services for its citizens