Business Entities & Structure
The terms behind how a business is legally structured, from a single-member LLC to a multinational corporation.
11 terms
-
01
Company Structures
Affiliated Company
A business entity that has a close association with another company through ownership, control, or influence, while maintaining its separate legal identity.
-
02
Company Structures
Corporation
A legal entity separate from its owners (shareholders) that provides limited liability protection and a formal structure for raising capital and conducting business.
-
03
Governance & Credentials
Directors
Members of a company's board who oversee corporate governance, establish strategic direction, and represent shareholder interests.
-
04
Company Structures
Franchise
A business arrangement where one party (franchisor) grants another party (franchisee) the right to use its business model, brand, and operating systems in exchange for fees and ongoing royalties.
-
05
Company Structures
Joint Venture
A business arrangement where two or more parties share ownership, risks, and rewards of a specific business project or enterprise.
-
06
Company Structures
Limited Liability Company (LLC)
A business structure combining the tax flexibility of a partnership with the limited liability protection of a corporation.
-
07
Company Structures
Limited Liability Partnership (LLP)
A partnership structure offering personal asset protection to all partners while maintaining partnership tax treatment.
-
08
Governance & Credentials
MBA
Master of Business Administration, an advanced degree focusing on business management principles, financial analysis, and strategic leadership.
-
09
Company Structures
Non-profit organization/tax-exempt organization
An entity organized for purposes other than generating profit, typically focused on charitable, educational, religious, or social objectives.
-
10
Company Structures
Partnership
A business structure where two or more parties share ownership, profits, and responsibilities.
-
11
Company Structures
Trust
A legal arrangement where assets are held and managed by one party (trustee) for the benefit of others (beneficiaries).