Chapter 6 Flashcards
Open Corporation
A corporation that offers its shares of stock for public sale
stockholder
Owners of a corporation
dividends
Profits distributed to stockholders on a per share basis
capital stock
The general term applied to the shares of ownership of a corporation
virtual corporation
A network of companies that form alliances among themselves as needed to take advantage of fast changing market conditions
Proxy
Written authorization for someone to vote on behalf of another person
quasi public corporation
A business that is important to society, but lacks the profit potential to attract private investors, and is often operated by local, state, or federal government
Limited Liability corporation
A special type of corporation that is taxed as a sole proprietorship, but has the benefits of a corporation
Board of Directors
The ruling body of a corporation
Joint Venture
An agreement among two or more businesses to work together to provide a good or service
close corporation
A corporation that does not offer its shares of stock for sale
corporation
A business owned by a group of people and authorized by the sate in which it is located to acts as though it were a single person
officers
Top executives who are hired to manage the business
shares
Equal parts of the division of ownership of a corporation
non profit organization
An organization that does not pay taxes and does not exist to make a profit
prospectus
A formal summary of the chief features of a business and its stock offering
cooperative
A business owned and operated by its user members for the purpose of supplying themselves with goods and services
charter
An official document through which a state grants the power to operate as a corporation
