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Types of business organizations

«off-the-shelf» company

agreement of association (company, etc.)

articles of incorporation

assets

association

bankruptcy

board of directors

bond

bookkeeping

business incubator

bylaws, statutes

CJSC (closed joint stock company)

collateral

common stock

company

competitor

contract

contractual disputes

corporate charter

corporate entity

corporation (incorporation)

costly

dividends

entrepreneur

expenses

factors of production

financial backer

financial gain

financial statement

for-profit corporation

franchise

franchise agreement

franchisee

franchisor

fraud

from time immemorial

general partnership

goodwill

individual (private entity)

inventory

investment

joint venture

joint-stock company

law of the jurisdiction

legal person (entity)

legislation

limited liability

limited partnership

LLC (limited liability company)

losses

mandatory arbitration

market share

memorandum of association

net worth

nominate contract

OJSC (open joint stock company)

opportunity costs

organization

over-the-counter stocks

partnership

personal income tax

preferred stock

premises (real estate)

profit vs loss

proprietor

proprietorship

receipts

record keeping

regulations

reward

risk

royalty fee

shares (stocks)

sole proprietorship

sole trader

startup

stock market

stockholder (shareholder)

supply

time factor

to assign

to bear risks and losses

to charge

to come to prominence

to contribute money

to evolve

to found a company

to give rise to litigation

to go bankrupt

to issue (e.g. shares)

to lodge a complaint

to make (conclude) contracts

to make a transaction

to open a bank account

to owe

to own

to pay the debts

to raise capital

to reap profits

to register a company (corporation, etc.)

to run a company (corporation, etc.)

to soar popularity

to sue (to be sued)

to terminate the contract

to track expenses

trademark

trade-off

treasurer

unlimited liability

voting rights

word of mouth

Exercise 5 Read the following text and describe the advantages and disadvantages of a sole proprietorship, explain how people can get help starting a small business, and list the advantages and disadvantages of a partnership.

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