| A | B |
|---|
| Alien | a corporation chartered in another nation doing business in the |
| articles of incorporation | application form from the secretary of state’s |
| articles of partnership | a partnership agreement usually express (may be |
| common stock | basic form of corporate ownership payable to shareholders as |
| corporation | a legal entity that is treated as an artificial person by |
| corporation by estoppel | courts will not allow denial of existence of a |
| de facto corporation | does not exist in law but exists in fact. |
| de jure corporation | lawfully exists after all formalities have been |
| Dissolution | change in the relationship of the owners that occurs when one |
| Dividend | profit paid through common stock to the shareholders |
| Domestic | corporation chartered in a particular state. |
| dormant partner | is one who is neither known to the public as a partner or |
| employer identification number | assigned by IRS for income tax purposes |
| 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 |
| general partnership | one which all the partners assume full personal |
| joint liability | all the owners of the business must be sued together in |
| joint venture | partnership in which one or more persons or firms combine |
| Liquidation | the ending of a corporation. |
| Merger | the process by which one corporation blends into another existing |
| Nonprofit | a corporation organized for a social |
| partnership by estoppel | occurs because someone does or says something |
| partnership by proof of existence | the way two people conduct their |
| partnership (general) | two or more competent parties combine their money |
| perpetual life | one major advantage of corporations |
| preferred stock | a type of stock that entitles its owner to a stated |
| Private | a corporation established for business or charitable reasons. |
| Promoter | person who carries out the incorporation process and is |
| secret partner | one who is not known to the public as a partner yet |
| share | certain amount of money paid for each single unit of ownership |
| 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 |
| sole proprietorship | a form of business that is owned and operated by one |
| Tenancy in partnership | a co-ownership of partnership property. |
| Termination | ending of a partnership. |
| Uniform Partnership Act (UPA) | the law that governs most business |
| unlimited liability | business owner is responsible for all losses |
