Partnership
is a business organization with two or more owners who share the risks and rewards.
Stock
shares of ownership in a corporation
Intermediary
buys and resells goods
Sole proprietorship
is a business owned by one person
Corporation
a business that is treated by law as a separate entity
Processors
business that changes raw goods into more finished products
Manufacturers
turn raw materials or processed goods into finished products
Unlimited Liability
full legal and financial responsibility for a business
Limited Liability
is financial responsibility only for what the owners of a corporation invested
Franchise
a contractual agreement to sell a company's products or services in a designated geographic area
Nonprofit Organization
a business whose main purpose is to provide a service rather than to earn a profit
Cooperative
a group of small business banded together into a type of corporation
Producer
is a business that gathers raw products in their natural state
Wholesaler
a type of business that buys goods in large amounts and resells them to other businesses in smaller lots
Retailer
a type of business that buys goods from wholesalers or manufacturers and sells them directly to the public
entrepreneur
a person who recognizes an opportunity and who organizes, manages, and assumes the risks of a business enterprise, with the intent of increasing the value of the business
risk taker
a person who likes to take chances
dot-com company
business that operates on the internet
profit
the money that is left over after a business has paid all the costs of producing its goods and services is called a profit
small business
an independently owned business serving a limited geographic area
entrepreneurship
a business by someone who accepted the risk of starting and running a business is an entrepreneurship