Insolvency - the state of not having enough money to pay what you owe; an occasion when this happens.
Permit - to allow somebody to do something or to allow something to happen.
Proprietorship - the fact or state of being the owner of a business, a hotel, etc.
Public Company - a company that sells shares in itself to the public.
Shareholder - an owner of shares in a company or business.
Franchise - formal permission given by a company to somebody who wants to sell its goods or services in a particular area; formal permission given by a government to somebody who wants to operate a public service as a business.
Debt - a sum of money that somebody owes.
Launch - to start an activity, especially an organized one.
Benefit - an advantage that something gives you; a helpful and useful effect that something has.
Founder - a person who starts an organization, institution, etc. or causes something to be built.
Definition of insolvency from the Oxford Advanced Learner's Dictionary[
