Тема 1: Типи компаній

1. Зробіть переклад слів та виразів, вивчіть їх напам’ять.

to intend

own

self-employed

structure

project

choice

to hesitate

advice

public

accountant

financial

lawyer

responsibility

share

to sell

to collaborate

commercial

advantage

difference

to transfer

without

unlimited liability

limited liability

flexible

to require

purpose

to provide

to involve

to interfere

2. Прочитайте та перекладіть текст.

Types of companies

You intend to develop your own professional business as a self-employed worker. Your first task will be to choose the legal structure which is best adapted to your projects.

There are two options:

• the individual company (self-employed as a natural person);

• the company (legal person).

This choice is critical for the future of your business. Don’t hesitate to call upon the advice of experts such as notaries public, lawyers, accountants, tax experts, financial reviewers, etc.

What are the most common types of companies?

Private Limited Companies

Private Limited Companies (PLC) are created by one or more persons. Their responsibility is limited. The shares are registered and there are only limited possibilities to sell shares. Thus, associates always know who they are collaborating with.

Limited Liability Companies

Limited Liability Companies are those which mainly rely on contribution of capital from associates. This type of commercial company has the advantage of making a complete difference between the company and its shareholders, which are usually anonymous. In general, shares are easy to transfer, without limits. This type of company requires a minimum capital of 61,500 euros.

Cooperative Companies

There are two types of cooperative companies:

• Cooperative companies with unlimited liability

• Cooperative companies with limited liability.

The cooperative company with unlimited liability is a flexible legal structure which does not require notarized deeds or minimum capital.

General Partnerships

A general partnership is a company of persons whose corporate purpose is to do commercial activity under a common name. There is no legal minimum capital.

Limited Partnerships

Limited partnerships include general and limited partners. General partners are responsible for management. Limited partners are financial contributors which may not interfere with the company’s management. There is no legal minimum capital.

Partnerships limited by Shares

A partnership limited by shares is a type of limited partnership. It involves two types of associates:

• General partners, among which the company managers are to be chosen;

• Limited partners, who provide capital and are shareholders.

2. Дайте письмові відповіді на запитання.

1. What do you need to know when you are going to develop your own professional business?

2. What options do you have to develop your own professional business?

3. What types of companies do you know?

4. What types of companies are widely known?

5. What are the main features of Private Limited Companies?

6. Describe the peculiarities of Limited Liability Companies and Cooperative Companies.