| A | B |
|---|
| sole proprietorship | single owner has responsibility |
| unlimited liability | responsible for all debts |
| partnership | two or more owners share responsibility |
| corporation | regarded as a separate entity |
| limited liability | owners only partially responsible for debts |
| stock | shares in the ownership of a company |
| stockholders | owners of a corporation |
| board of directors | make decisions for a corporation |
| charter | legal for giving a corporation the right to operate |
| franchise | a right to sell another company's products |
| cooperative | business owned and operated usually by its owners |
