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25 Cards in this Set
- Front
- Back
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Acquisition |
One company's purchase of the property and obligation of another company |
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Conglomerate Merger |
the joining of firms in completely unrelated industries |
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Conventional (C) Corporative |
a state-chatted legal entity with authority to act and have liability separate from its owners |
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Cooperative |
A business owned and controlled by the people who use it-producers!, consumers, or workers with similar needs who pool their resources for mutual gain |
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Franchise |
the right to use a specific businesses name and sell its products or services in a given territory |
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Franchise agreement |
an agreement whereby someone with a good idea for a business name and sell a product or service to others in a given territory |
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Franchisee |
A person who bids a franchise |
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Franchisor |
a company that develops a product concept and sells orbs the rights to make and sell the products |
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General partner |
An owner (partner) who has unlimited liability and is active in managing the firm |
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General partnership |
A partnership in which all owners share in operating the business and in assuming liability for the business's debts |
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Horizontal merger |
The joining of two firms in the same industry |
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Leveraged buyout (LBO) |
an attempt by employees, management, or a group of investors to purchase an organization primarily through borrowing |
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Limited liability |
The responsibility of a business's owners for losses only up to the amount they invest; limited partners and shareholders have limited liability |
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Limited liability company |
A company similar to a S Corporation but without the special eligibility requirements |
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Limited liability partnership (LLP)
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A partnership that limits partners risk of losing their personal assets to only their own acts and omissions of people under their supervision |
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Corporation |
A legal entity with authority to act and have liability separate from its over |
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Limited partner |
An owner who invests money in the money in the business but does not have any management responsibility or liability for losses beyond the investment |
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Limited partnership |
A partnership with one or more general partners and one or more limited partners |
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Master limited partnership (MLP) |
A partnership that looks much like a corporation(in that it acts like a corporation and is traded on a stock exchange) but is taxed like a partnership and thus avoids the corporate income tax |
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Merger |
The result of two firms forming one company |
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Partnership |
a legal for of business with two or more owners |
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S Corporation |
A unique government creation that looks like a corporation but is taxed like sole propriership and partnerships |
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Sole proprietorship |
A business that is owned and usually managed by one person |
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Unlimited liability |
The responsibility of business owners for all of debts of the business |
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Vertical merger |
The joining of two companies involved in different stages of related businesses |
