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question		réponse
Legal status commencer à apprendre		position defined by law
Innovator commencer à apprendre		someone who introduces changes and new ideas
Labour commencer à apprendre		people employed in business/ used in production
Unincorporated commencer à apprendre		businesses where there is no legal difference between the owner and the business
Incorporated commencer à apprendre		businesses that have a separate legal identity from its owners
Sole trader commencer à apprendre		business owned by a single person
Unlimited liability commencer à apprendre		owner of a business is personally liable for all business debts
Partnership commencer à apprendre		business owned by anything between 2 and 20 people
Deed of partnership commencer à apprendre		binding legal document that states the formal rights of partners
Limited partnership commencer à apprendre		partnership where some partners contribute capital and enjoy a share of profit but do not take part in running the business
Limited liability commencer à apprendre		business owner is only liable for the original amount of money invested in business
Audits commencer à apprendre		official examinations of a company’s financial records in order to check that they are correct
Comply commencer à apprendre		to do what you have to do or are asked to do
Franchise commencer à apprendre		structure in which a business allows another operator to trade under their name
Merchandise commencer à apprendre		goods that are being sold
Social enterprise being commencer à apprendre		business that aims to improve human or environmental well
Cooperative commencer à apprendre		company, factory or organisation in which all the people working there own equal share of it
Consumer cooperatives commencer à apprendre		cooperative that is owned by its customers
Retail cooperative commencer à apprendre		cooperative of retail members who often work together to assert their purchasing power
Worker cooperative commencer à apprendre		cooperative owned by its employees
Charities commencer à apprendre		organisations that give money, goods or help to people who are poor, sick or in need of help
Accountable commencer à apprendre		responsible for the effects of your actions and willing to explain or be criticised for them
Transparent commencer à apprendre		language or information that is clear and easy to understand

Chapter 3

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