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LEGAL TYPES: The three primary types of legal firm organizations are: (1) proprietorship, (2) partnership, and (3) corporation. One primary difference between these three legal types are number of owners -- proprietorship has one, partnership has two or more (but usually a small number), and corporation can have anywhere from one or to millions. A second difference is the liability of the owners -- proprietorship and partnership owners have unlimited liability and corporation owners have limited liability. Three newer firm types include (1) limited partnership, (2) S corporation, and (3) limited liability company. Each of these three are hybrids, with characteristics of proprietorship, partnership, corporation.
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BUYERS' MARKET A disequilibrium condition in a competitive market that has a surplus or excess supply. Because the quantity supplied is greater than the quantity demanded, buyers have the "upper hand" when negotiating. A market surplus also goes by the more common term of buyers' market. The alternative to a buyers' market is a sellers' market, which has a shortage or excess demand.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"Concentration is the secret of strength in politics, in war, in trade, in short in all management of human affairs. " -- Ralph Waldo Emerson, philosopher, poet
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UTP
Unfair Trade Practice
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