PBMF - Important Terms - Business Ownership

A business treated by law as separate from its owners

A business that gathers raw products in their natural state

Business that acts as a go-between in moving goods from producers to consumers, ex.wholesalers.

A business whose main purpose is to provide a service rather than to make a profit.

Businesses that change raw goods into more finished products

A type of business that buys goods in large amounts and resells them to other businesses.

Share of ownership in a corporation

A business owned by one person.

Businesses that make finished products out of raw processed goods.

Financial responsibility of business owners only for what they invested in a business

An organization of businesses owned and operated by the members, who pool their resources

Full legal and financial responsibility for a business

A business that sells goods or services directly to the public.

A contractual agreement to use the name and sell the goods or services of an existing company.

The Packers will beat the Seattle Seahawks tonight (BE CAREFUL!)

A business owned by two or more persons who share the risks and the rewards