| A | B |
|---|
| Acquisition | the purchase of one company by another |
| board of directors | governing body that reports to shareholders and delegates the power to run the day to day operations |
| chief executive officer (CEO) | top manager who is responsible for the overall performance of a corporation |
| closely held (or private) corporation | stock is only held by a few people and not available to many others cooperative, working or acting together? |
| corporate governance | roles of shareholders, directors, and other managers in corpoarte decision making and governance |
| corporation | a company has many owners and has a board that governs them and it treated like a person, separate entity? |
| divestiture | strategy where by a firm sells one or more of its business units |
| double taxation | portions are taxed then company pays out then that is taxed |
| employee stock ownership plan (ESOP) | allows people to have ownership in a company if you work as an employee |
| entrepreneur | accepts risk and opportunity in volved in creating and operation of a new business venture |
| entrepreneurship | theporcess of seeking business opportunities under the conditions of risk |
| franchise | arrrangement in whick a buyer (franchisee) purchases the right to sell the good or service of the seller (franchisor) |
| general (or active) partner | partner who actively manages the firm and has unlimited liability for its debts |
| general partnership | 2 or more owenrs sharing the operation of the firm and finanancial responsibility for debts |
| institutional investor | large investor purchase large blocks of corporate stocks (like mutual or pension fund) |
| joint venture | strategic alliance with joint ownership in a new venture |
| limited liability | owners who are taxed as individuals |
| limited liability corporation (LLC) | hybrid of a publicly held corporation and partnership (taxed as partners and limited liability) |
| limited partner | partner who des nto share in a firm's management and is liable of its debts only to the limist of the said partner's agreement |
| limited partnership | type of partnership consisting of limited paterns and a general (managing) partner |
| master limited partnership | form of owenrship that sells shares to investors who receive profitsand that pays taxes on income from profits |
| merger | union of two corporations to form a new corporation ex Verizon and Alltell |
| multinational (or transnational) corporation | form of corporation spanning national boundaries |
| officers | top management team of a corporation |
| professional corporation | form of ownership allowing professionals to take advantage of corporate benefits and limited business liability lawyers or doctors incorporate |
| publicly held (or public) corporation | stock is available to the general public |
| S corporation | hybrid of a closely held corporation and a partnership organized and operated like a corporation but treated as a partnership for tax purposes. |
| small business | privately owned and operated |
| Small Business Administration (SBA) | program to consolidate information from various disciplines and make available to small businesses |
| Small Business Development Center (SBDC) | a counseling program on development |
| Small business investment company (SBIC) | government regulated investment company that borrows money from the SBA to invest or lend to a small business |
| sole proprietorship | business owned by one person who is responsible for all of its debts |
| spin off | strategy of setting up one or more corporate units as new, independent corporations |
| stockholder (or shareholder) | owner of shares of stock in a corporation |
| strategic alliance | two or more organizations collaborate on a project for mutual gain |
| tender offer | an offer to buy shares made by a prospective buyer directly to the share holder |
| unlimited liability | legal principle holding owners responsible for paying off all debts of a business |
| venture capital company | group of small investors who invest money in complanies with rapid growth potential |
| cooperative | form of ownership when sole proprietorships or partnerships agree towork together for common benefits |
| business plan | document summarizing the strategy proposed for a new venture and the implementation strategy |
