A person who has the power and obligation to act for another under circumstances which require total trust, good faith and honesty.

A name under which a person conducts business other than his or her true or legal name. Missouri law requires any person or business entity who transacts business in the state under a name other than their own “true name” to register that business name with the Secretary of State. For a sole proprietorship, a business name is generally considered “fictitious” unless it contains the first and last name of the owner.

Abbreviated d/b/a or d.b.a., an alias: A name under which a business is conducted that is not the legal name of the person or persons who actually own and are responsible for it.

A member of the governing board of a corporation or association elected by the shareholders or members.

A provision in a contract in which one party agrees not to conduct a certain type of business for a specified time period in a certain geographic area. These provisions are common in employment agreements, franchise agreements and contracts for the sale of businesses.

A body that is granted a charter recognizing it as a separate legal entity having its own rights, privileges, and liabilities distinct from those of its members.

A corporation with profits taxed separately from its owners. The name derives from subchapter C of the Internal Revenue Code which governs the taxation of this type of corporation. C- corporations do not have limitations on the number of shareholders. All publically traded corporations are C- Corporations. A C corporation differs from an S corporation, whose profits are passed through to shareholders and taxed at the personal rates of the shareholders. S corporations have limits on the numbers and types of shareholders.

An agreement between two or more parties that creates in each party a duty to do or not do something and a right to performance of the other’s duty or a remedy for the breach of the other’s duty.

The written rules for governing the operation of a corporation or organization.

A document filed with the state to form a limited liability company, or L.L.C.