| A | B |
|---|
| trade assoc | proomotes interests of industry |
| bussiness assoc | promotes interests of group of businesses |
| professional org | American Bara, Ntl Ed Assoc, etc |
| nonprofit | not for purposes of making $ |
| cooperative | owned by group for shared benefit |
| multinational corp | produces/sells in many nations |
| conglomerate | merges 3 or more unrelated products |
| horizontal merger | 2 or more firms in same market |
| vertical merger | 2 or more firms in different stages of good |
| bond | corp promise to repay borrowed $ |
| dividend | portion of corp profits paid to stockholders |
| stock | certificate of ownership in corp |
| corp | owned by stockholders w/ limited liability |
| royalties | paid by franchisee to franchiser |
| business franchise | pays fees to parent company |
| assets | $ and other valuables belonging to ind or corp |
| limited partnership | only 1 partner is general partner |
| sole proprietorship | single owner |
| general partnership | all partners = in resp. and liability |
| fringe benefits | employee discounts, pd vacation |
| liability | legal obligation to pay debt |
| zoning laws | reg. where business can locate |
| business org | ownership structure of firm |
| entrepreneur | person who decides how to combine resources; create goods |
| articles of partnership | spells out each partners rights/resp. |
