Across
- 2. A form of ownership in which a retail franchise operates within the facilities of another store, often referred to as the host
- 10. A business owned by one person who receives all the profits from the business and takes all the risks
- 13. Assets of a business
- 15. A form of business ownership in which the business is owned by two or more persons
- 16. A business structure that pays commissions on sales earned to people at two or more levels; the sales representatives usually work independently of the company; the representatives not only sell products but try to get others to sell them
- 17. A contractual agreement between a parent company and a franchisee to distribute goods or services
- 19. A type of corporation that usually sells millions of shares of stock to many stockholders; must make its financial information available to the general public; also known as a “C” corporation
- 22. An arrangement that involves two or more businesses entering into a relationship by combining complementary resources, such as technology, skills, capital, or distribution channels, for the benefit of all parties; the relationship is usually short-term or for a single project/transaction
- 23. Restricted chance of loss; a condition in which business owners risk only the amount of their investment
- 24. A type of corporation owned by a few people that does not offer its shares for sale to the general public; also known as closely held, or close, corporation
Down
- 1. An illegal form of multi-level marketing in which emphasis is placed on collecting initial fees from as many people as possible
- 3. A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of law” (U.S. Supreme Court)
- 4. Requirement that business owners be responsible for paying business debt; personal assets can be used to pay the debt
- 5. Owners of stock; also known as stockholders
- 6. A type of corporation that is limited to 100 or fewer shareholders, has limited shareholder liability, and requires little financial reporting; taxed as a partnership; also known as an “S” corporation
- 7. A business structure that requires the authorization or permission from an owner to another entity to use trademarked, copyrighted (e.g., logo, name), or patented material for a specific activity, during a specific time period, for the profit of both parties
- 8. A type of partnership agreement in which all partners are liable for a business’s losses; also known as ordinary partnership
- 9. A group of people chosen to govern the activities of a corporation
- 11. Fees paid to a parent company that are often based on a percentage of the franchise’s profits; a percentage of actual sales that a licensee pays to a licensor; usually anywhere from 5 to 15%.
- 12. A form of business ownership that is considered a separate legal entity from its owners; can be owned by unlimited stockholders and is susceptible to dual taxation; also known as a public corporation
- 14. The process of taking possession of something (e.g., acquiring another business by purchasing it)
- 18. A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes
- 20. A percentage of the total sale amount paid to the individual or business that makes the sale
- 21. Anything of value that a business or individual owns