A protects a partner's personal assets from the negligence of other partner, in the firm. A state-chartered entity that is legally distinct from its owners and pays. taxes is a A is a document to incorporate a business that describes important aspects of the corporation. 6: Stockholders may receive from the firm, which represent a portion of recite earnings that are not retained by the firm. Stockholders of corporations can sell their stock to another investor who would like to invest in that corporation. When managers do not act as responsible agents for the shareholders who own the business, i results in a so called A represents the price received from the sale minus the price paid for the Mock. The total investment by the firm's stockholders represents the firm's manage, organize, and assume the risks of a business. Certificates of ownership arc called decide how funds obtained from owners, creditors, or from sales to customers should be utilized. represent the act of gathering information about the firm and providing i; to the firm s employees to make business decisions. managers must receive sales projections from the managers to determine how much of a product to produce. Steps for creating business ideas within a particular industry are identifying needs and assessing the cm is a detailed description of the proposed business including a description of the business, the types of customers it would attract, the competition, and die facilities needed for production. represents the market of customers that fit the customer profile