Unit III. Large-Scale Business Glossary

stock	основной, акционерный капитал; акция
common stock	обычная акция
preferred stock	привилегированная акция
to restrict	ограничивать
to entitle	давать право
to transact	вести дела, заключать сделку
to take advantage of smth.	воспользоваться чем-либо
earnings	зд.: поступления, доход
annual	ежегодный
board of directors	совет директоров
routine	заведенный порядок, установившаяся практика
charter	устав
legislature	законодательная власть
to vote	голосовать
to give up	бросить, отказаться

1. Choose several principles to arrange the words into groups.Translate the words:

to restrict, transaction, annual, fulfillment, to pool, holder, treatment, to pay, liable, annually, restrictive, to fulfill, routine, participation, to charter, a pool, to treat, routinely, to hold, a vote, payment, to participate, charter, restriction, to vote, to transact.

2. Translate the following sentences, paying attention to the Absolute Participial Construction:

1. The ownership of the corporation is divided into a specific number of shares of common stock, each share representing equal participation in the affairs of the firm.

2. Control of the corporation is centralized in a board of directors, elected at the annual stockholders’ meeting, each share of stock having one vote.

3. If the corporation cannot fulfill its contracts or pay its debts, it can be sued like a person, its property’ being taken in payment.

3. Read the texts of this unit and put down the sentences with like and unlike. Translate the sentences.

Text 1 The Corporation

a). Read the text and divide it into logical parts.

b). Find the sentences to explain the main differences between the corporations and small business.

c). Translate the text in written, paying attention to the grammar.

The corporation is a legal form of enterprise designed to take advantage of large-scale production methods by pooling the wealth of many people into a single enterprise, maintaining, at the same time, centralized control over operations, and responsibility for them.

Unlike partnerships, which are established by private agreement among the partners, a corporation can be only established by a charter from the state. Indeed, in the days when most farming, manufacturing, and commercial businesses were small and were carried on as proprietorships and partnerships, corporate charters were only issued by special acts of the state legislature.

The corporation was looked upon as a very special form of business organization, largely restricted to such enterprises as canal and railroad companies, for which huge agglomerations of wealth were essential. With the development of mass-production technology and increase in the amount of capital needed for efficient operation, the economic advantages of the corporate form grew rapidly. Today in the USA corporate charters are issued usually by state bureaus.