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Entrepreneur's Glossary A-L

Common words and acronyms for entrepreneurship and small business

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Acquisition
    Taking ownership of another business. Frequently used in conjunction with the word merger, as in mergers and acquisitions or M&As.
Advertising
    The activity of attracting public attention to a product or business, as by paid announcements in the print, broadcast, or electronic media. Not to be confused with marketing or public relations. See AMIC.com for an extensive glossary of advertising terms or About Advertising for more information.
Angel Investors
    Individuals who back emerging entrepreneurial ventures, usually as a bridge to get from the self-funded stage to the level of business that would both need and attract venture capital. Funding level ranges anywhere from $50,000 to $2 million. See Angel Investor News.
Appraisal
    A formal estimate of the value of something on the open market. It also describes how the estimation and conclusion of value was made.
BarterBusiness IncubatorBusiness Valuation
    An estimate of the worth of a business entity and its assets.
Consumer Direct Marketing
    A form of Network Marketing in which the distributors are all also consumers, i.e., they must also buy the product for their personal use.
Copyright
    Copyright is a form of protection for published and unpublished literary, scientific and artistic works that have been fixed in a tangible or material form. See WhatIsCopyright.org.
Corporation
    A body that is granted a charter recognizing it as a separate legal entity having its own rights, privileges, and liabilities distinct from those of its members. The primary advantage of a corporation is that shield its investors from personal liability for any losses the corporation may experience. See more info at Nolo.com.
Downline
    In a Multi-Level Marketing business, the collection of all people signed up underneath an individual on which the individual receives payment on their sales.
Due Diligence
    The inquiry process of obtaining sufficient and accurate disclosure of all material documents and other information which may influence the outcome of the transaction.
Entrepreneur
    A person who organizes, operates, and assumes the risk for a business venture.
General Partnership
    An organizational structure in which each general partner shares in the administration, profits and losses of the operation. See more info at Nolo.com.
Home Based Business
    A home based business is a business whose primary office is in the owner's home. The business can be any size or any type as long as the office itself is located in a home.
Independent Contractor
    One who practices an independent trade, business, or profession in which they offer their services to the public. The person contracting for their services must have the right to control or direct only the result of the work and not the means and methods of accomplishing the result. See IRS Publication 1796.
Intrapreneur
    A intrapreneur is one who takes on entrepreneur-like ventures within a large corporate environment.
Joint Venture
    A legal entity created by two or more businesses joining together to conduct a specific business enterprise with both parties sharing profits and losses. It differs from a strategic alliance in that there is a specific legal entity created.
Limited Liability Company (LLC)
    A legal entity that is not taxable itself and distributes the profits to its owners, but shields personal assets from business debt like a corporation. See more info at Nolo.com.
Limited Partnership
    A business arrangement in which the day-to-day operations are controlled by one or more general partners and funded by limited or silent partners who are legally responsible for losses based on the amount of their investment. See more info at Nolo.com.
Line of Credit
    Similar to a business loan, except that the borrower only pays interest on the amount actually used. Much like a credit card, the business makes periodic payments against the outstanding balance.
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