Business Marketing Words of the Week – September 9, 2019

Words of the Week

Please help students complete their vocabulary notebooks using the following words and definitions. They will be tested on Friday.

  1. sole proprietorship: the simplest form of business where the owner is responsible for his or her debts and liabilities
  2. business partnership: a business operated by two or more people who share management and profits
  3. limited liability company (LLC): a business where the owners are not personally responsible for the company’s debts or liabilities
  4. corporation: a company or group of people that act as one business
  5. C corporation: a legal structure where the owners are taxed separately from the business (BONUS)
  6. S corporation: a corporation that must meet certain tax requirement (BONUS)
  7. private company: a company that is owned privately and stocks are owned and traded privately
  8. public company: a company whose shares are traded freely in the public (on the stock exchange)
  9. franchise: a business that holds all the rights for that business. Example: A person could own a Coldstone Icecream franchise and use its logo and name.
  10. non-profit organization: a business that has the purpose of helping people or causes. It does not pay taxes.


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