Ch 5 H-Entrepreneurship "Business Ownership"

3. stock is sold on stock exchanges to any investor who wants to buy it.
6. organization that regulates the franchising industry.
7. a company set up to accomplish a specific mission rather than generate a profit.
8. relationship existing between two or more people who join to create a business.
10. doing business as license, needed to register a business.
13. legal document describing the purpose, place of business, and other details of the corporation.
14. one who invests money but is not involved in the businesses daily operations.
15. money and other assets owned by a business or person.
16. person who owns the business and is personally responsible for its debts.
19. shares of ownership in a company.
20. a legal entity.
21. department of the federal government dedicated to consumer protection.

1. provides limited liability to its owners, taxed like a partnership.
2. all company stock is held privately by one or more people.
4. detailed legal information that a franchisee must know before purchasing a franchise.
5. records and procedures that corporations are required by law to complete.
9. one managing partner and at least one limited partner.
11. legal responsibility
12. people who own stock in a company.
15. a legally binding agreement
17. a fee that franchises must continually pay the franchisor to keep operating the franchise.
18. most common type of corporation, pays taxes on profits and provides personal liability.