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42 Cards in this Set

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Acquisition

the purchase of one company by another

Board of Directors

governing body of a company that reports to the shareholders and runs day to day activities of the company.

Business Plan

how a business will be ran and what the company intends to do.

Chief Executive Officer (CEO)

top manager responsible for the company

Closely held (private) corportation

business where few people hold the stocks and is not sold publicly.

Cooperative

form of ownership in which a group of sole proprietors join together for common benefits

Corporate Governance

roles of shareholders, directors and other managers in the decision making of the company.

Corporation

business that is separate from its owners and their liability extends to their investments.

Divestiture

when a firm sells one or more of its business units.

Double Taxation

taxes on a business's profits and the shareholders' dividend.

Employee Stock Ownership (ESOP)

when a company holds its stocks for its employees and they gradually obtain part ownership of the company.

Entrepreneur

person who accepts the risks and rewards of starting a business.

Entrepreneurship

process of starting a business within the risks.

Established Makret

one where firms operate and compete according to well-defined critieria

First-mover advantage

when a firm moves on a venture before others and benefits

Franchise

when a buyer purchases the rights to sell under the name of an established firm

General (or active) partner

manager who actively is within the business and has unlimited liability

General Partnership

where partners share equal roles of operation and liability

Institutional Investor

when a large investors that purchases large blocks of stock.

Joint Venture

when a collaboration involves joint ownership of a new venture

Limited Liabilty

when an owner is responsible for a corporations debt only to the extent of their investment

Limited Liability Corporation (LLC)

corp. where owners are taxed as partners, but enjoy benefits of a limited liability

Limited Partner

partner that isn't a manager and only has liability for their investments

Limited Partnership

limited partners with a general partner

Merger

union of two corp. to make a new one

Multinational (transitional) Corporation

corp. spanning national boudaries

Niche

market that is not being exploited

Officers

top management

Professional Corporation

ownership has limited business liability and unlimited professional liability and they take advantage of corporate business.

Publicly Held (or public) Corporation

corp. whose stocks is open to the public

S Corporation

hybrid of closely held copr. and partnership.

Small Business

independently owned company with little influence in the market


Small Business Administration

gov. agency that helps small businesses

Small Business Development Center

develops small businesses

Small Business Investment Company

borrows money from SBA to lend to small businesses

Sole Proprietorship

one owner

Spin Off

setting up corporate units as new ones

Stockholder (shareholder)

owns stock

Strategic Alliance

businesses come together (joint venture)

Tender Officer

offering money to a corp. shareholders

Unlimited Liability

paying off all debts of a company

Venture Capital Economy

investing money to fast growing businesses