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| An establishment formed to carry on commercial enterprise. You are watching: The legally bound obligation to pay debts | |
| Sole proprietorship | A organization owned and managed through a single individual. The oldest and most common type of organization organization. |
| Liability | The legally bound obligation to salary debts. |
| Lack the permanence | A sole proprietorship ends with the life that the owner. |
| Partnership | A company organization own by 2 or an ext persons. |
| General partnership | Most common kind of partnership where both partner share responsibility and liability. |
| Limited partnership | Only one partner in a partnership has actually unlimited personal liability. |
| Unlimited liability | If a service fails, the owner has to sell personal property come pay off debts. |
| Limited liability Partnership | All partners have minimal liability, so they execute not have an individual liability for debt. |
| Assets | Money and also other valuables belonging to an individual or business. |
| Corporation | A legal entity owned by individual stockholders. |
| Stock | A certificate of property in a corporation. |
| Closely held corporation | Corportation that worries stock to only a couple of people. |
| Publicly hosted corporation | Corporation the sells stock on the open market. |
| Bond | A official contract promising to repay borrowed money through interest. |
| Certificate the Incorporation | License to kind a corporation authorize by the state government. |
| Conglomerate | Business mix merging more than three businesses the make unrelated products. |
| Horizontal merger | The mix of two or much more firms completing in the same industry for the same an excellent or service. |
| Vertical merger | The combination of two or an ext firms involved in different stages of developing the same great or service. |
| Dividend | The protion the corporate profits paid the end to stockholders. |
| Multinational corporation ((MNC) | Large corporation that produces and sells that is goods and services transparent the world. |
| Business franchise | A semi-independent organization that payment fees to a parent company in return for the exclusive right to sell a specific product or service in a certain area. |
| Royalty | Share that earnings provided as payment to franchiser or producer that a an excellent or service. |
| Cooperative | A organization organization owned and also operated by a team of people for their shared benefit. See more: What Does Ewe Mean In Hebrew : רָחֵל, Rāḥēl, H7353, Ewe Definition And Meaning |
| Non-profit organization | Institution that features much favor a service but walk not operate for the function of make a profit. |
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