Section 1.2 Key Terms

3. a business structure between multiple individuals
4. partnership. a business structure between limited individuals
5. liability. an limited legal concept that applies to certain business structures
6. a type of business structure in which an individual operates and manages a business on their own
9. a term used to indicate that a business entity has been legally formed
10. an entity or institution that operates for purposes other than generating a profit for its owners or stakeholders
13. financial term that refers to the excess of revenues
16. first sale of company's stock
17. term used to describe organizations that are not part of the government
18. a legal entity formed by a group of individuals
19. of partnership. a legal document that outlines the terms and conditions

1. liability. an unlimited legal concept that applies to certain business structures
2. an individual that owns shares or stocks of a corporation
7. held company a type of business organization that is not publicly traded on a stock exchange
8. an individual that is actively involved in the business
11. held company a type of business organization whose ownership is divided into shares of stock that are freely bought and sold on public stock exchanges.
12. sector A sector that is owned by the governament.
13. exchange. a regulated Marketplace
14. sector A sector that is not owned by the governament.
15. enterprise a type of business or organization that combines commercial and social objectives