“As defined by theSupreme Court, it isan “artificial being,invisible, intangible,and existing only incontemplation of thelaw.” Existence of anagreement, sharingof profits and losses,membership,existence ofbusiness, agencyrelationship. Active/ManagingPartner, Partner inProfits only, minorpartner, secretpartner, Partner byEstoppel. “Walmart,Target,Amazon, andAppleInc.” “ a document thatoutlines/lists all thethings that goes onwithin the LLC(whois in charge of what,liabilities)”It is a type ofbusiness ownedby someonewho assumes allthe profit andrisks. “A BoardofDirectors.” A sole proprietorshiphas the least amountof governmentinterference due tothe fact that they aresmall ->businesses that donot influencesociety as muchas the other typesof businesses. SoleProprietorshipwhich makes up70% ofbusinessesacross the US. unlimitedamount ofmembers Alemonadestand. A good partner isrespectful of andsensitive to theother, havinguniquely individualgoals andpriorities.Free!LimitedLiabilityPartnership They can befound in small,local, and/orhome basedbusinesses. “Merger,Consolidation,Expansion.” They tend to haveunlimited debt,meaning that theperson that owns thebusiness can havetheir debts be collectedfrom personal assets.They also do not need as much capital asother types ofbusinesses forinvestments as theytend to usually haveless than 50employees on averageworking for thebusiness.LimitedLiablilityCompanyFALSETwo or morepartners, ownership& control, mutualtrust & confidence, &contract oragreement. “If the company orany of thepartnership fails,the members can’tgo for any of thecreators personalassets.” A partnership is anarrangement whereparties, known asbusiness partners,agree to cooperate toadvance their mutualinterests.“Runsindependently of itsowners but it istreated as a personwith legal rights,duties, andpowers.”Generalpartnership,limitedpartnership, jointventure, limitedliability. “Private/ClosedCorporation, CCorporation, SCorporation, andNonprofitOrganization” “As defined by theSupreme Court, it isan “artificial being,invisible, intangible,and existing only incontemplation of thelaw.” Existence of anagreement, sharingof profits and losses,membership,existence ofbusiness, agencyrelationship. Active/ManagingPartner, Partner inProfits only, minorpartner, secretpartner, Partner byEstoppel. “Walmart,Target,Amazon, andAppleInc.” “ a document thatoutlines/lists all thethings that goes onwithin the LLC(whois in charge of what,liabilities)”It is a type ofbusiness ownedby someonewho assumes allthe profit andrisks. “A BoardofDirectors.” A sole proprietorshiphas the least amountof governmentinterference due tothe fact that they aresmall ->businesses that donot influencesociety as muchas the other typesof businesses. SoleProprietorshipwhich makes up70% ofbusinessesacross the US. unlimitedamount ofmembers Alemonadestand. A good partner isrespectful of andsensitive to theother, havinguniquely individualgoals andpriorities.Free!LimitedLiabilityPartnership They can befound in small,local, and/orhome basedbusinesses. “Merger,Consolidation,Expansion.” They tend to haveunlimited debt,meaning that theperson that owns thebusiness can havetheir debts be collectedfrom personal assets.They also do not need as much capital asother types ofbusinesses forinvestments as theytend to usually haveless than 50employees on averageworking for thebusiness.LimitedLiablilityCompanyFALSETwo or morepartners, ownership& control, mutualtrust & confidence, &contract oragreement. “If the company orany of thepartnership fails,the members can’tgo for any of thecreators personalassets.” A partnership is anarrangement whereparties, known asbusiness partners,agree to cooperate toadvance their mutualinterests.“Runsindependently of itsowners but it istreated as a personwith legal rights,duties, andpowers.”Generalpartnership,limitedpartnership, jointventure, limitedliability. “Private/ClosedCorporation, CCorporation, SCorporation, andNonprofitOrganization” 

Business Ownership C-S-P-H - Call List

(Print) Use this randomly generated list as your call list when playing the game. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.


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C
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S
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S
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H
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C
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S S
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C
  1. C-“As defined by the Supreme Court, it is an “artificial being, invisible, intangible, and existing only in contemplation of the law.”
  2. P-Existence of an agreement, sharing of profits and losses, membership, existence of business, agency relationship.
  3. P- Active/Managing Partner, Partner in Profits only, minor partner, secret partner, Partner by Estoppel.
  4. C-“Walmart, Target, Amazon, and Apple Inc.”
  5. H-“ a document that outlines/lists all the things that goes on within the LLC(who is in charge of what, liabilities)”
  6. S-It is a type of business owned by someone who assumes all the profit and risks.
  7. C-“A Board of Directors.”
  8. S-businesses that do not influence society as much as the other types of businesses.
    S-A sole proprietorship has the least amount of government interference due to the fact that they are small ->
  9. S-Sole Proprietorship which makes up 70% of businesses across the US.
  10. H-unlimited amount of members
  11. S-A lemonade stand.
  12. P-A good partner is respectful of and sensitive to the other, having uniquely individual goals and priorities.
  13. S-Free!
  14. H-Limited Liability Partnership
  15. S-They can be found in small, local, and/or home based businesses.
  16. C-“Merger, Consolidation, Expansion.”
  17. S-as much capital as other types of businesses for investments as they tend to usually have less than 50 employees on average working for the business.
    S-They tend to have unlimited debt, meaning that the person that owns the business can have their debts be collected from personal assets. They also do not need
  18. H- Limited Liablility Company
  19. H-FALSE
  20. P-Two or more partners, ownership & control, mutual trust & confidence, & contract or agreement.
  21. H-“If the company or any of the partnership fails, the members can’t go for any of the creators personal assets.”
  22. P-A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests.
  23. C-“Runs independently of its owners but it is treated as a person with legal rights, duties, and powers.”
  24. P-General partnership, limited partnership, joint venture, limited liability.
  25. C-“Private/Closed Corporation, C Corporation, S Corporation, and Nonprofit Organization”