Business Ownership and Registration Review

sole proprietorship

owned and operated by one person. most common. requires owner to be able to provide the funds, resources and managerial responsibilities to start and run a business.

partnership

legal agreement between 2 or more people to be responsible for a business. least common. general or limited.

limited partnership

partners have unequal share and liability in the business; they are responsible only for the amount they invested.

corporation

most complicated. separate legal entity. forms boards to act as governing bodies; hires directors and officers to manage the business affairs

franchise

the right or license to sell a companys product or service at a designated location

finance

the money or other resources needed to pay for a part or parts of the company and to finish with the necessary funds to operate.

microlending

issuing loans in small amounts

investors

groups of individuals who invest money in various types of companies in search of making a profit

debt capital

money borrowed from a business or investor which must be repaid over time with interest

equity capital

money raised by a business or investor in exchange for a share of the company

angel investors

wealthy individuals who seek high returns through private investments. usually former entrepreneurs or executives.

Domain Names

unique names which identify internet sites and businesses. bought and registered through online businesses. can also be the actual name of the business.

patent

grants of intellectual property rights to the inventor.

trademark

words, symbols, names or devices used to specify goods and differentiate one good from others.

copyright

protections provided to authors of original work

which type of business forms a board to guide and govern it

corporation

how are patents issued

by the US patent and trademark office

Which types of financing were suggested to fund a business

buying a business, securing financing, small business admin., government business loans program, small business investment company, investors.

suggestions for naming a business

short, easy to remember, descriptive

what items should influence the type of business to create

the needs of the owner

what is considered a disadvantage of a franchise

high purchase fees, percentage of sales or yearly fee paid to patent company, must follow parent company business structure.

what is wealth in the form of money or property called

capital

entrepreneurship

process of creating and managing new business venture