| A | B |
|---|
| Alien | a corporation chartered in another nation doing business in the state |
| Articles of Incorporation | application form from the secretary of state’s office filed for incorporating a business |
| Articles of Partnership | a partnership agreement usually express (may be written or oral) |
| Common Stock | basic form of corporate ownership payable to shareholders as dividends at par or no-par value |
| Corporation | a legal entity that is treated as an artificial person by the law. with limited liability of owners |
| Corporation by Estoppel | courts will not allow denial of existence of a corporation when a situation of some party’s willingness to treat a person as a corporation occurs |
| De Facto Corporation | does not exist in law but exists in fact |
| De Jure Corporation | lawfully exists after all formalities have been completed |
| Dissolution | change in the relationship of the owners that occurs when one owner stops being associated with the business |
| Dividend | profit paid through common stock to the shareholders, based on the corporation’s performance |
| Domestic | a corporation chartered in a particular state |
| Dormant Partner | is one who is neither known to the public as a partner or active in management |
| Employer Identification Number | assigned by IRS for income tax purposes when employees are hired |
| Fictitious Name | proprietor uses any name but his/her own name (made-up) |
| Foreign | a corporation that does business in one state but is chartered in another state |
| General Partnership | one which all the partners assume full personal liability for debts of the firm |
| Incorporators | signors of the Articles of Incorporation |
| Joint Liability | all the owners of the business must be sued together in the event of a lawsuit |
| Joint Venture | partnership in which one or more persons or firms combine their resources to complete one complex project |
| Liquidation | the ending of a corporation |
| Merger | the process by which one corporation blends into another existing corporation |
| Nonprofit | a corporation organized for a social, charitable, or educational purpose |
| Partnership by Estoppel | occurs because someone does or says something that leads a third party to believe that a co-ownership exists |
| Partnership by Proof of Existence | the way two people conduct their business together |
| Partnership | two or more competent parties combine their money, labor and skills for the purpose of carrying on a lawful business |
| Perpetual Life | one major advantage of corporations, which means the corporation can continue indefinitely with new owners |
| Preferred Stock | a type of stock that entitles its owner to a stated dividend |
| Private | a corporation established for business or charitable reasons |
| Promoter | person who carries out the incorporation process and is personally liable for contracts entered into before the corporation is formed |
| Public | a corporation established for governmental purpose |
| Secret Partner | one who is not known to the public as a partner yet participates in management |
| Share | certain amount of money paid for each single unit of ownership owned |
| Shareholder | a person who owns one or more shares of stock |
| Silent Partner | one who may be known to the public as a partner but takes no active part in management |
| Sole Proprietorship | a form of business that is owned and operated by one person |
| Tenancy in Partnership | a co-ownership of partnership property |
| Termination | ending of a partnership |
| Uniform Partnership Act | the law that governs most business associations of two or more persons |
| Unlimited Liability | business owner is responsible for all losses experienced by the business |
| Bootlegging | refers to illegal copying and selling CD’s |
| Clipart | is the use of images either copied or physically cut from pre-existing printed works, or from books that have entered the public domain |
| Copyrights | protect the expression of an idea but not the underlying idea itself, i.e. composers, artists, photographers |
| Design | is the process of originating and developing a plan for a new object (machine, building, product, etc |
| Fair Use Policy | is a term for uses of content that is considered valid defenses to copyright infringement, such as for criticism or educational purposes |
| Infringement | is violation of a law or a right |
| Intellectual Property | refers to something that is intangible and you cannot touch, i.e. patents, copyrights, and trademarks |
| Patents | means to grant the exclusive right to make, use, and sell a novel or new, non-obvious, useful product or process |
| Plagiarism | refers to the use of another's information, language, or writing, when done without proper acknowledgment of the original source |
| Service Mark | is a distinctive mark, symbol, or slogan or any combination of these used by a business to identify goods and to distinguish them from products sold by others |
| Software Piracy | is the unauthorized copying of software |
| Trademark | is a distinctive mark, symbol, or slogan or any combination of these used by a business to identify goods and to distinguish them from products sold by others |
| Trade Secrets | are protection under state law against unauthorized use |
