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18 Cards in this Set
- Front
- Back
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acquisiton |
corporate action in which one company buys the assets and obligations of another company and assumes control |
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merger |
the joining of two or more business entities into a single entity |
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cooperative |
business entity owned, controlled and operated by a group of users for their own benefit |
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franchise |
form of business in which one party gives another rights to sell its products or services and use its business format in a certain geographic area |
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limited partner |
individual who has shared ownership in a partnership but takes no part in managing it and has limited liability |
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S Corporation |
entity taxed like a sole proprietorship or partnership but maintains benefits of incorporation like limited liability |
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sole proprietorship |
unincorporated business with one owner |
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partnership |
business entity with two or more owners who share management and profits or losses |
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franchisee |
the party that buys the right to use a business's products, brands, business format, trade secrets etc. |
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franchisor |
the party that sells to another party the right to use its business format, proprietary knowledge, products etc |
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vertical merger |
joining two or more companies in similar industries but in different stages of the manufacturing process |
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LLC |
corporate hich investors have limited liability; similar to S corporations without eligibility requirements |
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gneral partnership |
business entity with two or more owners who own and operate the business and assume unlimited liability |
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unlimited liability |
full responsibility to pay the debts and obligations of a legal entity |
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conglomerate merger |
merger between two or more companies that are involved in totally unrelated business activities |
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horizorontal merger |
joining of two or more companies in the same industry and/or with similar products |
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corporation |
a legal entity with authority to act and have liability apart from its owner |
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limited partnerships |
a partnership with one or more general partners and one or more limited partners |
