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Business Tech
Entrepreneur Key Terms
Term | Definition |
---|---|
Entrepreneurship | The process of starting and managing a business to generate profit. |
Entrepreneur | A person who started a business ready for the risks to make high profit. |
Business plan | A written document included all steps necessary to opening and operate a business. |
Executive summary | A brief overview or description of a business. |
Risk | Possibility of losing something. |
Limited liability company | Protects its owners from personal responsibility for its debts or liabilities. |
Sole proprietorship | Business owned by one person. |
C Corporation | The owners are taxed separately from corporation. |
S corporation | Pass income on to the shareholders and avoid federal corporate income taxes. |
Partnership | Business owned by 2 or more people. |
Franchise | Individual or group granted a right to operate the business using trademarks of the company. |
Stock | A share in the ownership of a company to raise money for both company and shareholders |
Share | Represent ownership of a company. |
Stockholder | A person invested money into company, owning shares of company's stock. |
Dividend | A payment a company can make to shareholders if it has made a profit. |
Liability | Something a person or company owes. |
Limited liability | Investors' and owners' private assets are not at risk if the company fails. |
Unlimited liability | Business owners who are legally liable for any debt their business might accrue |
Stakeholders | A person can make decision and activity of a company. |
Aptitude | A natural skill or a knowledge of business situation. |
Skill | Ability to understand business well to promote success of a company. |