Marketing Word Scramble
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| Term | Definition |
| Enterpreneurship | Process of starting and operating your own business |
| Entrepreneurs | people who create,launch,organize, and manage a new business and take the risk of business ownership |
| franchise | A legal agreement to sell a parent company's product or service in a designated geographic area |
| Sole prepreitorship | A business that is owned and operated by one person |
| Unlimited liability | the owner's financila liability isnot limited to investmesntsd in the business |
| partnership | A legal agreement between two or more people to be joinly resposible foe the success or failure of a business |
| generalpartnership | Each partner shares in the profits and losses |
| limited partnership | Limited partner is liable for any debts only up to the amount of hisor her investment in the company |
| limited liabilty | The personal assets of the owners cannot be taken ifg a company does not goes well and falls into legal trouble |
| Corporation | A legal entity created by either a state or a federal statute, authorizing individuals to operate an enterprise |
| Stockholders | The owners of a corporation and have limited liability |
| foreign corporation | One that is incorpated under the laws of a state that differs from the one in which it does business |
| LLC | A reletivly n ew form of business organization that is a hybird of a partnership and a corporation |
| DBA | The registrationvby which the county gov. officialy recongizes that a new propreitorship or partnership exists |
| Articles of incorporation | The name and address of a new corporatio0n , its purpose, and the names of the intial directors |
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Rm02252002
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