Business Terminology

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Accountability

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The obligation of an individual or organisation to account for its activities and accept responsibility.

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Capital employed

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The total amount of capital used for the acquisition of profits by a firm or project.

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Continuity

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The ongoing operation of a business over time.

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Franchise

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A type of licence that a party acquires to allow them to have access to a business's proprietary knowledge, processes, and trademarks.

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Franchisee

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An individual or company that holds a franchise for the sale of goods or the operation of a service.

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Franchisor

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An entity that owns the overarching company, trademarks, and products, but gives the right to the franchisee to run the franchise location.

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Joint Venture

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A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task.

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Limited liability

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A legal structure where a corporate loss will not exceed the amount invested in a partnership or limited liability company.

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Market capitalisation

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The total market value of a company's outstanding shares of stock.

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Market share

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The portion of a market controlled by a particular company or product.