Unit 2 Business Ownership

Fees paid to a franchise company to support television, magazine, or other advertising of the franchise as a whole

• Purchasing Fees
• Advertising Fees
• Patent Fees

A group of people who meet several times a year to make important decisions affecting the company

• Board of Directors
• Business Owners
• Community Servants

A business that has the legal rights of a person but is independent of its owners

• Corporation
• Partnership
• Sole Proprietor

Distributions of corporate profits to the shareholders

• Taxes
• Dividends
• Profits

A legal agreement that gives an individual the right to market a company’s products or services in a particular area

• Family Business
• Franchise
• Corporation

A regulatory document describing a franchise opportunity that prospective franchisees must receive before they sign a contract

• Business Plan
• Contract
• Franchise Disclosure Document

The amount the local franchise owner pays in return for the right to run the franchise

• Dividends
• Profits
• Initial Franchise Fee

A business owned by two or more people

• Partnership
• Sole Proprietor
• Corporation

Weekly or monthly payments made by the local owner to the franchise company; these payments usually are a percentage of a franchise’s income

• Profits
• Royalty Fees
• Grants

A unit of ownership in a corporation

• Portion
• Rights
• Share of Stock