Fill in the blanks with appropriate terms
1. Corporate action in which one company buys the assets and obligations of another company and assumes control:
2. The joining of two or more business entities into a single entity.
3. Business entity owned, controlled and operated by a group of users for their own benefit.
4. Form of business in which one party gives another rights to sell its products or services and use its business format in a certain geographic area.
5. Individual who has shared ownership in a partnership but takes no part in managing it and has limited liability.
6. Entity taxed like a sole proprietorship or partnership but maintains benefits of incorporation like limited liability.
7. An unincorporated business with one owner.