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One company’s purchase of the property and obligations of another company.
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A legal authorization from the federal or provincial/territorial government for a company to use the corporate format.
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The joining of firms in completely unrelated industries.
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An organization that is owned by members and customers, who pay an annual membership fee and share in any profits.
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The process and policies that determine how an organization interacts with its stakeholders, both internal and external.
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A legal entity with authority to act and have liability separate from its owners.
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The right to use a specific business’s name and sell its goods or services in a given territory.
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An arrangement where-by someone with a good idea for a business sells the rights to use the business name and sell its goods and services in a given territory.
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A person who buys a franchise.
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A company that develops a product concept and sells others the rights to make and sell the products.
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An owner (partner) who has unlimited liability and is active in managing the firm.
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A partnership in which all owners share in operating the business and in assuming liability for the business’s debts.
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The joining of two firms in the same industry.
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An attempt by employees, management, or a group of investors to purchase an organization primarily through borrowing.
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For a business, it includes the responsibility to pay all normal debts and to pay because of a court order or law, for performance under a contract, or payment of damages to a person or property in an accident.
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The responsibility of a business’s owners for losses only up to the amount they invest; limited partners and shareholders have limited liability.
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Limits partners’ risk of losing their personal assets to the outcomes of only their own acts and omissions and those of people under their supervision.
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An owner who invests money in the business but does not have any management responsibility or liability for losses beyond the investment.
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A partnership with one or more general partners and one or more limited partners.
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The result of two firms forming one company.
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A legal form of business with two or more parties.
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Legal document that specifies the rights and responsibilities of each partner.
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Corporation that is not allowed to issue stock to the public, so its shares are not listed on stock exchanges; it is limited to 50 or fewer shareholders.
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Corporation that has the right to issue shares to the public, so its shares may be listed on a stock exchange.
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A business that is owned and operated by one person, without forming a corporation.
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The responsibility of business owners for all of the debts of the business.
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The joining of two companies involved in different stages of related businesses.
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