S1 Exam Review Chapter 6 Business Ownership Vocabulary ENTRE 202

Front

monitors all businesses and protects customers

Back

Federal Trade Commission

Front

regulates the franchising industry

Back

international franchise association

Front

a legal document with detailed information a franchisee must know before purchasing a franchise

Back

franchise disclosure document

Front

the fee that franchisees must continually pay to keep operating the franchise

Back

royalty payment

Front

the money and other assets owned by a business or person

Back

capital

Front

a person who owns a business and is responsible for debts

Back

sole proprietor

Front

needed to officially register a business

Back

DBA license

Front

taking the blame

Back

liability

Front

relationship between 2 or more people who join to create a business

Back

partnership

Front

where there is one managing partner and at least one limited partner

Back

limited partnership