Partners - ️️members of a company who share the risks and profits of the business
Franchise - ️️A business that takes its name and characteristics from an existing business chain
Stakeholder - ️️An individual with an interest in a business
Prototype - ️️A preliminary produc...
Partners - ✔ ✔ members of a company who share the risks and profits of the business
Franchise - ✔ ✔ A business that takes its name and characteristics from an existing business chain
Stakeholder - ✔ ✔ An individual with an interest in a business
Prototype - ✔ ✔ A preliminary product, commonly a product with minimum viability, from which to
test and develop
Service - ✔ ✔ an intangivle service or skill that is performed
Equity - ✔ ✔ Non-cash compensations offered to employees in place of or in addition to a lower
salary
Stockholder - ✔ ✔ An owner of one or more shares of a corporation
Small Business - ✔ ✔ A corporation, partnership, or sole proprietorship that is privately owned by
one indivudal or a small group of people.
Salary - ✔ ✔ A fixed amount of money paid to an employee for each pay period.
Product - ✔ ✔ A tangible item
Commission - ✔ ✔ A fee paid to an employee for completing a task
, B2B - ✔ ✔ A business to business commercial transaction between businesses
Sole Proprietorship - ✔ ✔ a business owned and managed by a single individual. There is unlimited
liability.
Compensation - ✔ ✔ A monetary amount given to employees in return for their work
S Corporation - ✔ ✔ a type of business that offers limited liability like a corporation and single
taxation like a partnership, but no foreign investors are allowed
Hourly Pay - ✔ ✔ payment for services rendered based on the number of hours worked
Piece work - ✔ ✔ a worker paid a fixed rate for each unit produced
CFO - ✔ ✔ The chief financial officer is responsible for a business's finances.
B2C - ✔ ✔ the process in which businesses sell to consumers
COO - ✔ ✔ Chief Operating Officer is responsible for seeing the day to day administrative and
operational functions.
LLC - ✔ ✔ limited liability company is ideal for a single owner seeking low risk.
C Corporation - ✔ ✔ A business structure that allows the company to pass its income, losses
deductions and credits through its shareholders to decrease their taxation. Ideal for international
businesses. There is double taxation.
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