1-10 Crossword

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Across
  1. 5. A business owned by one person, and the owner has unlimited liability, meaning the owner can lose more than they invested in the business.
  2. 8. A legally binding document that outlines the rights, responsibilities, and obligations of the individuals involved in a partnership.
  3. 11. A corporation with the purpose of explicitly including public benefit in their decisions, versus only considering maximizing shareholder value.
  4. 13. A “franchisee” pays a fee to a “franchisor” that allows the franchisee to use the franchisor’s brand name. There are generally two types of franchises: business format franchise and product trade name franchise.
  5. 17. A type of corporation that serves some public service and therefore gets special tax treatment under the law. The United Way charity is an example.
  6. 19. The legal responsibility of an individual (or entity) for business actions, debts, and obligations.
  7. 21. This type of corporation has a small group of owners, does not sell its stock to the general public, and does not report its financial information to the public.
  8. 23. A hybrid business structure where all the partners have decision-making and management power, and have limited liability, meaning they can’t lose more than they invested, and, they can’t be held responsible (liable) for any of their partner’s actions.
  9. 24. A business where a retail franchise operates inside of another, larger “host” facility.
  10. 26. When two or more companies cooperate by pooling together resources for the purpose of performing a specific task, like developing a product, selling a certain product, or combining certain business activities.
  11. 27. When businesses experience growth through one or many ways, including by increasing marketing efforts, hiring more sales employees, adding locations, adding new products or services, and/or entering new markets,
Down
  1. 1. A business where all the partners have decision-making and management power, and have unlimited liability.
  2. 2. Similar to a C Corp in that owners’ losses are limited to their investment. However, it is different from a C Corp in that it is limited by the number of owners it can have. And it avoids double taxation by passing the tax liability directly through to each owner (like an LLC or other form of partnership) based on the level of ownership each owner has in the company. Owners are called stockholders.
  3. 3. A “licensee” pays a royalty to a “licensor” that allows the licensee rights to use certain intangible property, like trademarks, patents, formulas, processes, designs, and copyrights. For example, Nike might license the use of the NBA trademark in order to sell certain branded apparel.
  4. 4. A hybrid business structure, where it combines the operational characteristics of a sole proprietorship or partnership while limiting the liability of the investors to the amount they invested.
  5. 6. When two companies, often competitors, join together to form one company. Most often one of the two companies gives up its brand identity. In other cases, the two brand names are shared; ExxonMobil is an example.
  6. 7. The liability that extends beyond an individual’s financial investment into a company.
  7. 9. A business where individuals make commissions selling goods and services directly, and also make commissions from sales made by their network of recruited distributors.
  8. 10. A franchise relationship where the “franchisee” can sell a “franchisor’s” specific line of products. An example would be an independent car dealership selling cars made by, for example, a Ford dealer.
  9. 12. A business owned by two or more people.
  10. 14. A franchise relationship that gives the “franchisee” access to the “franchisor’s” proprietary knowledge base, systems and processes, training programs, and trademarks and allows the franchisee to operate and sell the franchisor’s product or service under the franchisor’s brand name. Examples include McDonald’s and Subway.
  11. 15. A business where one or more of the partners are not active, have no decision-making power, and are limited in their liability to the amount they invested.
  12. 16. A corporation that can sell unlimited shares to the general public, is heavily regulated by the government, reports its financial information to the public, and is double taxed.
  13. 18. Bringing together multiple companies or multiple parts or business units from multiple companies to form one larger company.
  14. 20. A form of multi-level marketing that is illegal to operate, where most of the focus is on collecting large up-front fees and recruiting more members to pay more up-front fees, and to sell low quality products with very little effort on actually selling the products.
  15. 22. The liability restricts an individual’s potential loss to the total amount of their investment in a company.
  16. 25. A legal entity that is separate from its owners and controlled by a board of directors; the entity has most of the same rights and responsibilities that individuals possess, but offers limited liability.