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3 курс 1 семестр МС 2012-13 (методична розробка...doc
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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 is not 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?