| A | B |
|---|
| Organization Chart | a diagram that shows work relationships in a business. |
| Shareholder | A person who own stock in a corporation |
| Limited Liability | An owner is responsible for debts only to the extent of the owner's investment |
| Partnership | Business with two or more owners |
| Corporate Charter | Legal document issued by a state giving a corporation permission to operate |
| Unlimited Liability | An owner is responsible for all losses that exceed a business's assets |
| Dividend | The part of the profits of a corporation that each shareholder receives. |
| Sole Proprietorship | Business owned by one person |
| Corporations | A business made up of a number of owners but authorized by law to act as a single person. |
| Stocks | Shares in ownership of a corporation |
| Cooperative | A business that is owned by the members it serves and is managed in their interest |
| Franchisee | The person or group of people who have received permission from a parent company to sell its products or services |
| Franchise | A written contract granting permission to sell someone else's product or service in a prescribed manner |
| Franchisor | The parent company that grants permission to a person or group to sell products or services |
| Municipal Corporation | An organization that provides services for citizen with revenue from their taxes and that does not have earning a profit as a goal. |
