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Business ownership key terms
Study Business ownership with curriculum-aligned Key Terms resources, practice links, and exam-focused support.
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key terms
Resource type
Topic
Business ownership
Key terms
Limited liability
The legal principle that limits an owner's financial responsibility to the amount invested in the business, protecting personal assets from business debts.
Limited liability
A legal status where owners’ personal assets are protected from business debts; liability is limited to the amount invested.
Profit distribution
The method by which a business allocates its profits to owners, shareholders, or partners, often based on ownership shares or contractual agreements.
Limited liability
A legal status where a company’s owners are only liable for debts up to the amount they have invested, protecting personal assets.
Limited Liability
A legal status that protects owners’ personal assets from business debts and liabilities.
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