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30 Cards in this Set
- Front
- Back
Small Business Administration
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Federal Agency charged with assisting small business
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small business
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independently owned and managed business that does not dominate its market
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entrepreneur
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businessperson who accepts both the risks and the opportunities involved in creating and operating a new business venture
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business plan
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document in which the entrepreneur summarizes her or his business strategy for the proposed new venture and how that strategy will be implemented
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venture capital company
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group of small investors who invest money in companies with rapid growth potential
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small-business investment company
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government-regulated investment company that borrows money from the SBA to invest in or lend to a small business
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small business development center
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sba program designed to consolidate information from various disciplines and make available to small businesses
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franchise
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arrangement in which a buyer (franchisee) purchases the right to sell the good or service of the seller (franchiser)
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sole propietorship
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business owned and usually operated by one person who is responsible for all of its debts
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unlimited liability
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legal principle holding owners reponsible for paying off all debts of a business
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general partnership
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business with two of more owners who share in both the operation of the firm and the financial responsibility for its debts
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limited partnership
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type of partnership consisting of limited partners and an active or managing partner
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limited partner
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partner who does not share in a firm's management and is liable for its debts only to the limits of said partners investment
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general (or active) partner
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partner who actively manages a frim and who has unlimited liability for its debts
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corporation
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business that is legally considered an entity separate from its owners and is liable for its own debts; owners liability extends to the limits of their investment
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limited liability
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legal principle holding investors liable for a firm's debts only to the limits of their personal investments
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tender offer
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offer to buy shares made by a prospective buyer directly to a target corporation's shareholders, who then make individual decisions about whether to sell
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double taxation
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situation in which taxes mayh be payable both by a corporation on its profits and by shareholders on dividend incomes
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closely held (private) corporation
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corporation whose stock is held only by a few people and is not available for sale to the general public
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publicly held corporation
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corporation whose stock is widely held and available for sale to the general public
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s corporation
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hybrid of a closely held corporation and a partnership, organized and operated like a corporation but treated as a partnership for tax purposes
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limited liability corporation
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hybird of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability
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professional corporation
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form of ownership allowing professionals to take advantage of corporate benefits while granting them limited business liability and unlimited professional liability
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mulitnational or transnational corporation
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form of corporation spanning national boundaries
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corporated governanve
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roles of shareholders, directors, and other managers in corporate decision making
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stockholder or shareholder
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owner of shares of stock in a corporation
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stock
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share of ownership in a corporation
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preferred stock
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stock that offers its holders fixed dividends and priority claims over assets but no corporate voting rights
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common stock
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stock that pays dividends and guarentees corporate voting rights but offers last claims over assets
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board of directors
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governing body of a corporation that reports to its shareholders and delegates power to run its day-day operations while remaining responsible for sustaining its assets
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