| A | B |
|---|
| sole proprietorship | a business owned and run by just one person. |
| partnership | a business owned and run by two or more people who have entered into an agreement together |
| corporation | a business owned by one or more shareholders and managed by a board of directors. |
| general partnership | type of partnership in which all partners are involved in owning and operating the business |
| limited liability partnership | type of partnership in which some investors can not lose more than the amount of their investment |
| s-corporation | a special type of corporation that has less than 100 shareholders and meet other restrictions but owners benefit by only being taxed once |
| franchise | grant permission to sell products and services under the name of a proven brand |
| non-profit corporation | a special type of corporation that doesn't have to pay taxes as its purpose is to benefit the public |
| dormant partner | a partner that shares in the profits or losses but plays no role in management and is not known to the public. |
| general partner | a partner that plays an active role in management and has unlimited liability |
| secret partner | a partner that plays an active role in management but is not known by the public |
| silent partner | a partner that does not have an active role in management but is known to the public |
| limited liability company | smaller businesses that benefit from both single taxation and limited liability (also known as LLC) |
| cooperative | formed and owned by a group of individuals or businesses in order to gain bargaining power against bigger businesses |
| joint venture | agreement by two businesses to work together on a specific project for a limited time |
| stockholders | the owners of a corporation (also called shareholders) |
