Corporation A business corporation is a for-profit, entity that has a separate legal personality from its members. Owned by multiple shareholders and is overseen by a board of directors.

Have full control of a particular market Examples??? Monopoly Characterized by a lack of economic competition for the good or service that they provide. Have full control of a particular market Examples???

Dell / News Corp / GE / Kirkland (Costco) Conglomerate Term used to describe a large company which consists of divisions of often seemingly unrelated businesses Example: COMPANY A Soda Cars Paper TV’s Dell / News Corp / GE / Kirkland (Costco)

Trust A group of corporation in the same or related fields that agree to combine under a single board of trustees Shareholders receive dividends (payments) but lose say in business operation Standard Oil Trust Trusts were made illegal

Holding Company A company that owns part, all, or a majority of other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself, rather its only purpose is owning shares of other companies. Holding companies allow the reduction of risk for the owners.

Entrepreneur A person who operates a new enterprise or venture and assumes some accountability for the inherent risks. Often difficult and tricky, as many new ventures fail. willing to accept a high level of personal, professional or financial risk to pursue that opportunity, and gain all rewards!

What did Charles Darwin Say? How does this apply to Business? Social Darwinism What did Charles Darwin Say? How does this apply to Business? -------------------------------------------- People who reached the top of the business world were the fittest and deserved their vast power and wealth.

Government should not interfere with the workings of business. Laissez-Faire Government should not interfere with the workings of business. “Hands off” Free Enterprise – individual owners make business decisions.

Sherman Anti-Trust Act Illegal for businesses to form monopolies Business owners would pay off Congress to not uphold the act

John D. Rockefeller clip

Henry Ford clip