Business Unit Two Flashcards
What is a franchise
Established brand, limited decision making, large start up cost, lets people open stores up on their own
What is a co-operative
Must be a member to use services, shared common interest, owned by members, motive is service (like non-profit)
What is a cooperation
Can be one or many owners, limited liability, easy to transfer ownership
What is a crown cooperation
A business owned by the government
What is a private cooperation
Shares of the company can not be purchased in the stock market
What is a public cooperation
A company where shares can be purchased on the stock market
What is a partnership
Two or more owners, usually unlimited liability, share profits and decisions, shared responsibility
General partnerships
Unlimited liability
General partnerships
Unlimited liability
Limited parternership
Limited liability
Limited parternership
Limited liability
Sole proprietorship
One owner, unlimited liability, keeps all profits, makes decisions, limited access to talent and capital
