Examlex
Operator associativity is either left to right or
Member-Managed
Describes a management structure in a limited liability company (LLC) where all members (owners) actively participate in the day-to-day operations and decision-making process.
Manager-Managed
A structure typically used in limited liability companies (LLCs) where the management is officially assigned to one or more managers rather than being directed by all members.
Joint Venture
A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task.
Test-Market
A process used by companies to evaluate the viability of a new product or service in a limited geographic area before a wide-scale launch.
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