3 Ownership

join purpose unlimited liability company limited liability company be liable (for) debt assets sole trader/proprietorship (general) partnership

об'єднуватися, приєднуватися мета компанія з необмеженою відповідальністю компанія з обмеженою відповідальністю бути відповідальним (за) борг; зобов'язання майно, активи одноосібна власність товариство

private limited company (BrE) / limited liability company (AmE) public limited company (BrE) / listed company (AmE) shareholder share wealth offer (v) public stock exchange

закрита акціонерна компанія відкрита акціонерна компанія з обмеженою відповідальністю акціонер акція багатство пропонувати громадськість фондова біржа

A business is an organization of material, human, financial, and information resources that are joined together for a specific purpose. Not all businesses are owned and organized in the same way.

In unlimited liability companies the owners are personally and entirely liable for the debts of the company. This means they may lose their personal assets (e.g., their house or their car) if the company is in financial difficulties.

In a limited liability company (Ltd.) the owners are liable only for the amount of money they have invested in the business.

Unlimited liability companies are subdivided into sole traders (BrE) / sole proprietorship (AmE) (a type of business organization owned and run by one person) and partnership (BrE) / general partnership (AmE) (a firm run by two or more partners).

Limited liability companies are subdivided into private limited companies (BrE) / limited liability companies (AmE) and public limited companies (BrE) / listed companies (AmE). A private limited company/limited liability company is a company which has shareholders (people who own the wealth of a company) but which cannot offer its shares to the public.

A public-limited company / listed company is a company whose shares can be bought and sold on the stock exchange. A public limited company is privately owned. It isnot run by the state.

1 Are all businesses owned and organized in the same way? 2 What is the simplest form of business ownership? 3 What are the owners liable for in unlimited liability companies? 4 What are the owners liable for in a limited liability company? 6 What is a partnership?7 What are limited liability companies subdivided into?8 What is a private limited company?9 What is a public limited company?10 Is a public limited company privately or state-owned?

1 Match words that have a similar meaning:

join purpose sole trader public limited company offer organize personal share

sole proprietorship listed company propose aim unite stock arrange individual

2 The words in the box frequently occur after "debt". Find combinations that mean: 1) a person employed to recover money owed by a person or an organization; 2) paying loans back to the lender; 3) renegotiating the form of debts; 4) renegotiating the dates that debts are to be repaid;5) the overall amount of an organization's debt; 6) a period when adebtoris having trouble repaying their debts.

3 Match the words and phrases in the box with the correct definition: 1) a firm run by two or more partners; 2) a business owned by one person; 3) a company in which the owners are entirely liable for the debts of the company; 4) a company in which the owners are liable only for the amount of money they have invested in the business; 5) a company that may not offer its shares for sale to the public; 6) a company whose shares can be bought and sold on the stock exchange; 7) money owed by one

one person or an organization to another; 8) an item of value belonging to a person or a company; 9) one of many portions into which a company's capital is divided; 10) a market where stocks and shares are bought and sold under fixed rules; 11) a person who owns shares in a company and is, therefore, a member of the company; 12) (owning) a large amount of money, goods or property.