| A | B |
|---|
| A business that is owned by one person | Sole Proprietorship |
| A business owned by two or more people | Partnership |
| A business with the legal rights of a person and which may be owned by many people | Corporation |
| A unit of ownership in a corporation | Share of Stock |
| A group of people who make important decisions affecting the company | Board of Directors |
| Distribution of profits to shareholders by a corporation | Dividends |
| A person who sells businesses for a living | Business broker |
| An expert on determining the value of a business | Valuator |
| A legal agreement that gives an individual the right to market a company's products or services in a particular area | Franchise |
| The person who purchases a franchise agreement | Franchisee |
| The person or company that offers a franchise for purchase | Franchisor |
| The fee that franchise owners pays in return for the rights to run the franchise | Initial Franchise Fee |
| The costs associated with beginning a business | Start-up Cost |
| Weekly or monthly payments made by the owner of the franchise to the seller of the franchise | Royalty Fees |
| Fees paid to support television, magazine, or other advertising of the franchise as a whole | Advertising Fee |
