An enterprise that derives income primarily from providing personal services, rather than goods. Examples include plumbers, contractors, consultants, physicians, and accountants.
An individual or entity that sells goods or other property to a buyer.
To transfer possession and ownership of goods or other property for money or something of equivalent value.
Stock issued by eligible small corporations under Section 1244 of the Internal Revenue Code which allows the shareholders to treat up to $50,000 of losses ($100,000 if married and filing jointly) from the sale of the stock as ordinary losses instead of capital losses.
A program under which a car manufacturer will make repairs for free on vehicles with persistent problems, even after the warranty has expired, in order to avoid a recall and the accompanying bad press. Secret warranties are rarely advertised by the manufacturer, so consumers must pursue the manufacturer to discover and take advantage of them. A few states require manufacturers to notify car buyers when they adopt secret warranty programs.
An attempt to stop others from purchasing products from, performing services for, or otherwise doing business with a company that does business with another company that is in the midst of a labor dispute. For example, if a grocery chain's clerks are on strike, and their union discourages a delivery drivers' union from moving the products of the chain's largest food supply companies, that would be a secondary boycott. The purpose of the secondary boycott is typically to exert indirect pressure on the employer to resolve the labor dispute by causing its business connections to suffer as a result of the dispute. Secondary boycotts are illegal under the National Labor Relations Act.
A law enacted in 2002 in response to several corporate and accounting scandals, requiring publicly traded companies to disclose information to shareholders, protecting whistleblowers, and requiring stringent audit practices.
The transfer of ownership (title) to property in return for money (or another thing of value) on terms agreed upon between buyer and seller.
The responsibility a carrier, borrower, or user of property or goods assumes, or an insurance company agrees to cover, if there is damage or loss.