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FEDERAL COMMUNICATIONS COMMISSION: An federal government agency established by the Communications Act of 1934 that is charged with regulating interstate and international communications by radio, television, wire, satellite and cable. This agency, commonly known by the acronym FCC, consists of five Commissioners appointed by the President and confirmed by the Senate. Each commissioner serves a 5-year term, except when filling an unexpired term. One of the regulatory forces in the marketing environment.

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OWNERSHIP LIABILITY

The extent to which the owners of a business are liable for the debts of the company. The two basic liability alternatives are unlimited liability, which has no restrictions on ownership liability, and limited liability, which does have restrictions. Ownership liability is one characteristic separating legal business organizations. Proprietorships and partnerships have unlimited liability. Corporations have limited liability.

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Today, you are likely to spend a great deal of time at a garage sale hoping to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for jovial bank tellers.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
"Do not let what you cannot do interfere with what you can do. "

-- John Wooden, basketball coach

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