Business Chapter 4

A business that is owned (and usually operated) by one person.

A legal concept that holds a business owner personally responsible for all the debts of the business.

A voluntary association of two or more persons to act as co-owners of a business for profit.

A person who assumes full or shared responsibility for operating a business.

A person who invests money in a business but has no management responsibility or liability for losses beyond the amount he or she invested in the partnership.

An artificial person created by law with most of the legal rights of a real person, including the rights to start and operate a business, to buy or sell property, to borrow money, to sue or be sued, and to enter into binding contracts.

The shares of ownership of a corporation.

A person who owns a corporation's stock.

A corporation whose stock is owned by relatively few people and is not sold to the general public.

A corporations whose stock can be bought and sold by any individual.

A corporation in the state in which it is incorporated.

A corporation in any state in which it does business except the one in which it is incorporated.

A corporation chartered by a foreign government and conducting business in the United States.

Stock owned by individuals or firms who may vote on corporate matters but whose claoms on profits and assets are subordinate to the claims of others.

Stock owned by individuals or firms who sually do not have votng rights but whose claims on dividends are paid before those of common-stock owners.

A distribution of earnings to the stockholders of a corporation.

A legal form listing issues to be decided at a stockholders' meeting and enabling stockholders to transfer their voting rights to some other individual or individuals.

The top governing body of a corporation, the members of which are elected by the stockholders.

The chairman of the board, president, executive vice presidents, corporate secretary, treasurer, and any other top executive appointed by the board of directors.

A feature of corporate ownership that limits each owner's financial liability to the amount of money that he or she has paid for the corporation's stock.

A corporation that is taxed as though it were a partnership.

A form of business ownership that combines the benefits of a corporation and a partnership while avoiding some of the restrictions and desadvantages of those forms of ownership.

A corporation organized to provide a social, educational, religious, or other service rather than to earn a profit.

An ageement between two or more groups to form a business entity in order to achieve a specific goal or to operate for a specific period of time.

A temporary association of individuals or firms organied to perform a specific task that requires a large amount of capital.

The purchase of one corporation by another.

A ituation in which the management and board of directors of a fir targeted for acquistition desapprove of the merger.

An offer to purchase the stock of a firm targeted for acquisition at a price just high enough to tempt stockholders to sell their shares.

A technique usedto gather enough stockholder votes to control a targeted company.