Module 2: Units 4-6
“The purpose of business is to create and keep a customer.”
Peter F. Drucker [1]
4.1. While analysing the Unit and reading the Text please pay attention to the following words and word-combinations, explore their Ukrainian equivalents:
Nouns:
| forms of business organization:
company/corporation
affiliated company
allied company
close corporation
daughter company
franchising
general partnership
governmental company
joint venture
limited liability company
limited partnership
nonprofit company
parent/holding company
publicly-held corporation
sole proprietorship
subsidiary
unlimited liability company
accountant
| annual report
assurance
barrister
bartender’s license
business enterprise
capital-raising (advantages)
contract of adhesion
corporation law
debt
(de)merits
entity
entrepreneur(-ship)
expenses
franchiser(-ee)
fringe benefits
lawsuit
loan
marketing chain
personal assets
personal property
| profit
profit and loss (account)
profitability
responsibility
retail outlet
salary
savings
share/stock
shareholders/stockholders
solicitor
statute
tax rate
taxation (benefits)
tie-in sales
trade name/brand
transaction
(un)limited liability
wages
warrant
|
Verbs:
| to constitute a company
to establish ~
to form ~
to set up ~
to start ~
to close down ~
to dissolve ~
to liquidate ~
| to sell out ~
to wind up ~
to bear on
to be hired/fired
to be responsible for
to file (annual reports)
to gain (profits)
to incorporate (a business)
| to lease
to operate a business
to pool (sb’s property)
to rent out
to run a business
to share (dividents)
to sue/to be sued
to supply
|
Adjectives & Adverbs:
| contractual
corporate (tax)
deductible
| income (tax)
legal (identity)
turnkey
| taxable (income)
(un)incorporated business
ultimate (consumer)
|
4.2. Read and analyse the following Forms of Business Organization:
The legal form of a business can have great bearing on the successful operation and resulting profitability of the business venture. Accordingly, it is important to have a general understanding of the fundamental features of each of the basic types of business organization. This part will offer a general examination of:
1. Sole proprietorship
2. Partnership
3. General Partnership
4. Limited Partnership
5. Joint Venture
6. Joint-Stock Company
7. Company or Corporation
8. Publicly-held Company
9. Close Company
10. Limited Liability Company
11. Unlimited Liability Company
12. Governmental Company
13. Nonprofit Company
14. Franchising
