A business
that is owned (and usually operated) by one person.
A legal
concept that holds a sole proprietor personally responsible for
all the debts of his or her business.
An association
of two or more persons to act as co&-owners of a business
for profit.
A person who
assumes full or shared responsibility for operating a business.
A person who
contributes capital to a business but is not active in managing
it; this partner's liability is limited to the amount that he or
she has invested.
An artificial
person created by law, with most of the legal rights of a real
person, including the right to start
and operate a business, to own or dispose of property, to
borrow money, to sue or be sued, and to enter into binding
contracts.
The shares of
ownership of a corporation.
A person who
owns a corporation's stock.
A corporation
whose stock is owned by relatively few people and is not traded
in stock markets.
A corporation
whose stock is traded openly in stock markets and can be
purchased by any individual.
The process of
forming a corporation.
A corporation
in the state in which it is incorporated.
A corporation
in any state in which it does business except the one in which
it is incorporated.
A corporation
chartered by a foreign government and conducting business in the
United States.
A contract
between the corporation and the state, in which the state
recognizes the formation of the artificial person that is the
corporation.
Stock owned by
individuals or firms who may vote on corporate matters, but
whose claims on profit and assets are subordinate to the claims
of others.
Stock whose
owners usually do not have voting rights, but whose claims on
dividends and assets precede those of common stock owners.
A distribution
of earnings to the stockholders of a corporation.
A legal form
that lists issues to be decided at a stockholders' meeting and
requests that stockholders transfer their voting
rights to some other individual or individuals.
The top
governing body of a corporation, the members of which are
elected by the stockholders.
The chairman
of the board, president, executive vice president, corporate
secretary and treasurer, or any other top executive appointed by
the board of directors.
A feature of
corporate ownership that limits each owner's financial liability
to the amount of money he or she has paid for the corporation's stock.
A corporation
that is taxed as though it were a partnership.
A corporation
owned and operated by a local, state, or federal government.
A business
owned party by the government and partly by private citizens or
firms.
A corporation
that is organized to provide a social, educational, religious,
or other service rather than to earn a profit.
The purchase
of one corporation by another.
An association
of individuals or firms whose purpose it is to perform some
business function for all its members.
A partnership
that is formed to achieve a specific goal or to operate for a
specific period of time.
A temporary
association of individuals or firms, organized to perform a
specific task that requires a large amount of capital.
