Business Organizations

4. A self-sufficient business that has to pay a portion of its income to a larger company in order to be able to sell a certain item or job.
5. A foundation that works like a business but does not work for a profit. All profits that are attained are put back into the foundation. These profits are exempted from the federal income tax.
7. A business that is owned and managed by a group of people for their joint benefit.
9. A business that is a legal entity owned by individual stockholders
10. A business that produces goods or services usually in order to make a profit
11. represents a stockholder’s portion or part of ownership of the corporation, also called shares.
12. a business has legal standing. Corporations have the legal capacity to pay debts, sue/be sued, to enter into contracts, and be held responsible for its actions.
14. combination of 2 or more firms involved in different stages of producing a good or service (ex. Carnegie Steel owned the Iron mines and Steel Refineries)

1. large corporations headquartered in one country with subsidiaries (smaller branches) throughout the world.
2. combination of 3 or more businesses making unrelated products. [ex. AOL (internet) Time (news magazines) Warner (TV and Movies]
3. A business owned by one person and most common of the business organizations, but they are small and only contribute to 6% of all U.S. sales
6. A business owned by more than two people that share responsibility and responsibility for debt (liability) of the business
8. combination of 2 or more corporations who provide the same good or service (ex. Cingular and AT&T)
13. combinations of two or more corporations into a larger corporation. They are closely watched by the government to prevent the creation of monopolies.