Words to Remember:

acquisition – придбання

annual meeting – щорічні збори

assets – активи

be liable for – бути відповідальним за

branch – відділення, філія

buy shares (stocks) – купувати акції

charter – статут

debt – борг

depend on – залежати від

dissolve a company – розпускати компанію

dotcom – інтернет-компанія

elect the Board of Directors – обирати раду директорів

enterprise – підприємство

entrepreneur – підприємець

fail – не вдатися; failure – невдача, провал

franchise – ліцензія

in the event of – у випадку, за умови

issue – випускати, видавати

joint stock company – акціонерне товариство

joint venture – спільне підприємство

legal person – юридична особа

limited liability – обмежена відповідальність

lose – втрачати

meet creditors’ demands – виконувати вимоги кредиторів

merger – злиття

own – володіти

owner – власник, syn proprietor

ownership – власність, володіння

participate – брати участь

partnership – співробітництво, компанія

private limited company (Ltd) – приватна компанія з обмеженою відповідальністю

profit – вигода, прибуток

provide (supply) capital – надавати капітал

public limited company (Plc) – державна компанія з обмеженою відповідальністю

raise money – збирати гроші

run a company – керувати компанією

sell (sold) – продавати

set up a company – створювати компанію

share – ділитися, розподіляти

shareholder – акціонер

sole trader – одноосібна власність, syn proprietorship

Stock Exchange – фондова біржа

subsidiary – дочірня компанія, філія, syn affiliate company

take the risks – брати на себе ризик

Exercise 6 Form all possible derivative words from the given word: e.g. success – succeed – successful – succession - successor

Own, profit, liable, fail, elect, lose, sell, provide, invest, pay, manage, develop, produce, employ, special.

Exercise 7 Match the definitions to these easily confused words:

subsidiary (affiliate) ▪ branch ▪ agency

• A company which is controlled by a parent company.

• A business or place of business providing a (usually specified) service.

• A local office belonging to a national firm organization

Put the right word – subsidiary (affiliate), agency or branch – into the blanks.

1. Coca-Cola has a(n) …. in more countries than there are in the United States.

2. A travel … can organize business trips as well as holidays.

3. A(n) … is a company of which more than half the share capital is owned by the holding company.

4. The major banks have at least one … in all large cities.

Exercise 8 Fill in the blanks with the correct word.

raise ▪ legal ▪ assets ▪ ownership ▪ liability ▪ debts shares ▪ enterprises ▪ issue ▪ charter ▪ failures

1 The partners in a business are the people who share the … of it. 2. If you … money that you need, you can get it, for example, by selling your property or by borrowing. 3. Small … have become more numerous nowadays. 4. Jane … a room with her sister. 5. Is it … to own a gun in this state? 6. For smaller businesses, partnerships allow people to share the risk but also they must share any …. 7. A corporation … states the name of the corporation, the objectives for which it was formed, its place of business, the number and kinds of shares it is authorized to …, the names of the original directors, etc. 8. The shareholders’ … for debts is limited to the value of their shares. 9. If the company fails, all its … must be sold and the money from the sale will be used to pay the … to its creditors.

Exercise 9 a) Which of the following types of companies would you prefer to work for? Why?

• A small or medium-sized family business

• A large multinational company (joint venture)

• Your own company (be self-employed)

• The state company

• A trendy new high-tech corporation

2. Read the three descriptions of business organisation.