Chapter 33 Marketing Essentials

A type of investment in which owner’s liability is not limited to investments in the business.

Investment in w/c personal assets of owners can't be taken if a co doesn't meet fin. obligation

A type of business ownership in which each partner shares in the profits and losses.

Business ownership, each limited partner is liable for debts up to the amount of investment.

Incorporated under the laws of a state that differs from the one in which it does business.

Legal agreement to sell a parent company’s product or services in a designated geographic area.

Relatively new form of business organization that is a hybrid of a partnership & a corporation.

Identifies name, address of a new corp, purpose, names of directors, amount of stock to issue.

Someone who starts and manages a new business and takes the risk of business ownership

A business that is owned and operated by one person.

Registration by which the county govt. officially recognizes a new proprietorship/partnership.

Skills of people willing to invest time/money to run a business; process to start/own business

Legal agreement between 2 or more people to be responsible for success or failure of a business

Legal entity created by state or federal statute authorizing individuals to operate enterprise.

Owners of a corporation with limited liability.