| A | B |
|---|
| corporation | business owned by a group of people and authorised by the state in which it is located to act as though it were a single person, separate from owners |
| charter | often called certificate of incorporation, the official document through which a state grants the power to operate as a corporation |
| stockholders | sometimes called shareholders, the owners of a corporation |
| shares | the ownership is divided equally into parts called |
| dividends | profits that are distributed to stockholders on a per-share basis |
| board of directors | the ruling body of a corporation, board members are elected by shareholders |
| officers | top executives who are hired to manage the business |
| capital stock | general term applied to the shares of ownership of a corporation |
| proxy | written authorisation for someone to vote on behalf of the person signing |
| close corporation | corporation that does not offer its shares of stock for public sale |
| open corporation | a corporation that offers its shares of stocks for public sale |
| prospectus | formal summary of the chief features of the business and its stock offering |
| joint venture | agreement among two or more businesses to work together to provide a good or service |
| virtual corporation | network of companies that form alliances among themselves as needed to take advantage of fast-changing market conditions |
| cooperative | business owned and operated by its user-members for the purpose of supplying themselves with goods and services |
| limited liability company (LLC) | or a Subchapter S corporation, a special type of corporation allowed by states that is taxed as if it were a sole proprietorship or partnership |
| nonprofit corporation | an organisation that does not pay taxes and does not exist to make a profit |
| quasi-public corporation | a business that is important to society but lacks the profit potential to attract private investors is often operated by local, state, or federal government |
