| A | B |
|---|
| Multi-level marketing | A business structure that pays commissions on sales earned to people at two or more levels; the sales representatives usually work independently of the company; the representatives not only sell products but try to get others to sell them |
| Nonprofit corporation | A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes |
| Operating agreement | A written document signed by members of a limited liability partnership (LLP) or limited liability company (LLC) that specifies the terms of their business arrangement |
| Partnership | A form of business ownership in which the business is owned by two or more persons |
| Piggyback franchise | A form of ownership in which a retail franchise operates within the facilities of another store, often referred to as the host |
| Private corporation | A type of corporation owned by a few people that does not offer its shares for sale to the general public; also known as closely held, or close, corporation |
| Private enterprise system | An economic system in which individuals and groups, rather than the government, own or control the means of production; also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system |
| Product trade-name franchise | A franchise arrangement based on an independent sales relationship between a franchisor and franchisee to stock and sell a specific line of goods; also known as dealership or exclusive distributorship |
