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Business Ownership<3
Alexis Ortiz & Pablo Umana
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Corporation. A business owned by a group of people and authorized by the state in which is located to act as though it was a single person.
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Limited Partnership Restricts the liability of a partner for the amount of the partners investment.
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Joint Venture Two or more business that agree to provide a good service, sharing the cost of doing business and also the profits.
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Franchise A legal agreement between a company and a distributor to sell a product or service under special conditions.
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Non-Profit Corporation
An organization that does not pay taxes and does not exist to make a profit.
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Cooperative A business owned an operated by its user-members for the purpose of supplying them sells with goods and services.
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S-Corporation Corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes.
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Stock shares of ownership in a corporation
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Intermediary business that acts as a go-between in moving goods from producers to consumers, such as wholesalers, retailers, and distributors
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Sole proprietorship a business owned by only one person
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Processors businesses that change raw goods into more finished products
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Manufacturers businesses that make finished products out of raw processed goods
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Unlimited liability full legal and financial responsibility for a business
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Limited liability financial responsibility of business owners only for what they invested in a business
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Producer a business that gathers raw products in their natural state
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Wholesaler a type of business that buys goods in large amounts and resells them to other businesses in smaller lots
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Retailer a business that sells goods or services directly to the public
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