Business Terms

3. Scheme a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products
5. Liability Company a business structure in the United States whereby the owners are not personally liable for the company's debts or liabilities
8. of directors an elected group of individuals that represent shareholders
9. are transactions in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities
10. an individual or institution that legally owns one or more shares of the share capital of a public or private corporation
12. a useful or valuable thing, person, or quality
14. a marketing concept which can be adopted by an organization as a strategy for business expansion

1. a term for financial assets, such as funds held in deposit accounts and/or funds obtained from special financing sources
2. Corporation a closely-held company, is a business that is generally owned by a small group of investors
4. marketing a strategy that some direct sales companies use to encourage existing distributors to recruit new distributors
6. a legal entity that is separate and distinct from its owners.
7. a formal arrangement by two or more parties to manage and operate a business and share its profits
11. Proprietorship the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity
13. Corporation a type of corporation that meets specific Internal Revenue Code requirements