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1.4.1 Start-up and small business options - Match-up

Match-up definitions and answers with key terms and examples. Press submit to check your answers.

Limited Liability
Unlimited Liability
Sole Trader
Partnership
Private Limited Company
Franchise
Franchisee
Franchisor
Shareholder


Answers
An individual or entity that owns shares in a company, especially in a private limited company
A business structure where the owner(s) are personally responsible for all of the business's debts and obligations
An entrepreneur who buys the right to operate a franchise, using the business model and brand of the franchisor
A business structure where the company is owned by shareholders, has its own legal identity, and limits the liability of its owners
A legal structure where a business has its own identity separate from its owners
A business model where an individual (franchisee) buys the rights to operate a business using the branding and model of an established company
A business structure where two or more individuals own and operate the business
A business owned and operated by one individual, where there is no legal distinction between the owner and the business
The company that owns the brand and business model of a franchise, which is licensed out to franchisees
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