Forms of Business Ownership

1234567891011121314
Across
  1. 1. A sole ______ is a business that is established, owned, operated, and often financed by one person.
  2. 2. The combination of two or more firms to form one new company.
  3. 6. A ______ partnership is one in which all partners share in the management and profits. Each partner can act on behalf of the firm and has unlimited liability for all its business obligations.
  4. 8. The purchase of a target company by another corporation or by an investor group typically negotiated with the target company board of directors.
  5. 11. In a franchising arrangement, the individual or company that sells the goods or services of the franchisor in a certain geographic area.
  6. 12. The board of _______ is a group of people elected by the stockholders to handle the overall management of a corporation, such as setting major corporate goals and policies, hiring corporate officers, and overseeing the firm’s operations and finances.
  7. 13. A ______ partnership has one or more general partners, who have unlimited liability, and one or more limited partners, whose liability is limited to the amount of their investment in the company.
  8. 14. A ______ merger is merger of companies at the same stage in the same industry; done to reduce costs, expand product offerings, or reduce competition.
Down
  1. 1. An association of two or more individuals who agree to operate a business together for profit.
  2. 3. A form of business organization based on a business arrangement between a franchisor, which supplies the product or service concept, and the franchisee, who sells the goods or services of the franchisor in a certain geographic area.
  3. 4. A limited ________company (LLC)is a hybrid organization that offers the same liability protection as a corporation but may be taxed as either a partnership or a corporation.
  4. 5. The owners of a corporation who hold shares of stock that carry certain rights.
  5. 7. A joint ______ is when two or more companies form an alliance to pursue a specific project, usually for a specified time period.
  6. 9. In a franchising arrangement, the company that supplies the product or service concept to the franchisee.
  7. 10. A ______ merger is a merger of companies at different stages in the same industry; done to gain control over supplies of resources or to gain access to different markets.