- 3. the state of being responsible for something, especially by law.
- 4. A patent is an exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something, or offers a new technical solution to a problem.
- 9. is an organization whose purpose is something other than making a profit.
- 11. an association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.
- 12. a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.
- 14. is the simplest and most common structure chosen to start a business.
- 15. a useful or valuable thing, person, or quality.
- 18. is a type of monopoly that exists as a result of the high fixed costs or startup costs of operating a business in a specific industry.
- 20. the goods or merchandise kept on the premises of a business or warehouse and available for sale or distribution.
- 1. Share of earnings given to a franchise as payment.
- 2. the action or process of differentiating.
- 5. is to divide a municipality into residential, commercial, and industrial districts (or zones), that are for the most part separate from one another, with the use of property within each district being reasonably uniform.
- 6. the situation prevailing in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.
- 7. secret or illegal cooperation or conspiracy, especially in order to cheat or deceive others.
- 8. an extra benefit supplementing an employee's salary, for example, a company car, subsidized meals, health insurance, etc.
- 10. a sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits (or reserves).
- 13. the maintaining of prices at a certain level by agreement between competing sellers.
- 16. an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, e.g., providing a broadcasting service or acting as an agent for a company's products.
- 17. a thing used to tie something or to fasten things together.
- 19. the exclusive possession or control of the supply or trade in a commodity or service.