Английский язык (стр. 7 )

There are two steps to be taken before starting your business:

·  you must first choose its legal form

·  and then legally incorporate it

Choosing the legal structure of the business is the crucial step in the decisions you will have to make. Your choice will affect daily operations of the business, the taxes to be paid and the degree of liability of the entrepreneur and of any partners he may have.

It is important to choose the legal form that will enable your business to develop, while taking into consideration the activities to be taken on. Your notary, lawyer or accountant can help you make the right choice.

The most popular form of business is a joint-stock company, also called a company or corporation, a joint-stock company is a ‘legal person’. This means that the company itself has rights and powers separate and different from those of the natural or legal persons who compose it and are its shareholders. A joint-stock company has its own assets and incurs its own debts. The liability of the shareholders is limited to their investment.

Once you set up a joint-stock company, you need to prepare its Memorandum of association, which must contain the following clauses:

The company’s name (Clause 1)

A company is only a legal person but, like a human being, it must have a name…..

The final words of the name – generally. A private company whether limited by shares or guarantee, must end its name with the word ‘limited’. A public company must end its name with the words ‘public limited company’. The short forms – ‘Ltd’ and ‘plc’ – are allowed. These words or their short forms, must not appear elsewhere in the name.

Registered office (Clause 2)

There is only a statement that the registered office is situated in England. The actual address is not given but, as we have seen, it is filed with the Registrar when applying for registration.

The actual address can be changed by an ordinary resolution of the members. This requires a 51 per cent majority.

Objects (Clause 3) Generally

This clause lists the things which the company can do. If it enters into a transaction which is not included in the clause, that transaction will at common law be ultra vires (that is, beyond its powers) and void (that is, of no effect).

Limitation of liability (Clause 4)

This clause simply states that the liability of the membership is limited.

Capital (Clause 5)

This clause must state the amount of the company’s authorized capital and its division into fixed nominal value.

Association clause

Finally, there is an association clause which states that the subscribers wish to be formed into a company and that they agree to take the shares opposite their names.

Articles of Association

The second major document, governing the company is the articles of association. The articles together with memorandum when registered are a contract which binds the company and its members as if signed and sealed by each member.

It contains the shareholders’ rights and the amount of shares; regulations and procedures on general meeting and the list of the directors and their rights and duties. There are also stated different questions related to the regulation of the company.

Insolvency problems

If a joint-stock company goes bankrupt and can not pay out its debts, then either the shareholders or the creditors are entitled to sell it out. But first of all a liquidation committee is formed to regulate the process of winding up. In case of a voluntary liquidation the commission is appointed by the shareholders of the general meeting, but if the winding-up is compulsory then a court, in majority cases an arbitration must appoint this committee to solve the problem.

II.  Match the equivalents:

1. Apply for registration	a) Акционерное общество
2. Articles of association	b) Государственная компания
3. Bind (v)	c) Добровольная ликвидация
4. Capital	d) Капитал
5. Clause	e) Ликвидационная комиссия
pany’s authorized capital	f) Ликвидация
pany’s name	g) Название компании
pulsory liquidation	h) Неплатежеспособность
9. Fixed nominal value	i) Нотариус
10.Insolvency	j) Обязывать
11. Joint-stock company	k) Официальный адрес правления компании
12. Legal person	l) Подать заявление на регистрацию
13. Legal structure of business	m) Подписчики (капитала)
14. Liquidation committee	n) Правовая организация бизнеса
15. Natural person	o) Принудительная ликвидация
16. Notary	p) Статья (договора)
17. Objects	q) Устав акционерного общества
18. Private company	r) Уставной капитал (фонд) компании
19. Public company	s) Установленная номинальная стоимость
20. Registered office	t) Физическое лицо
21. Subscribers	u) Цель (образования компании)
22. Voluntary liquidation	v) Частная компания
23. Winding-up	w) Юридическое лицо

III.  Answer the following questions:

How many steps are there to be taken before starting your business? What is a crucial step in the decisions you will have to make? Why is it important to choose the legal form of your business? Which is the most popular form of business? What word must end a private company with? What word must end a public company with? What binds the company and its members? What do the articles of association contain? What should be done if a joint-stock company goes bankrupt? What happens in a case of a voluntary liquidation? What happens in a case of a compulsory liquidation?

IV.  Match the following sentences (1-11) with the words or phrases (a-k) on the right:

1. The holder of these has lent the company money but has no voting rights	a) a subsidiary
2. A group of six accountants have decided to form an association to carry on business in common and make a profit	b) group
3. The investors give these people the power to run the company	c) non-profit making
4. This company holds more than 50% of the voting shares in another company	d) stock-exchange
5. Members of the public can only invest in this company if they are invited to do so.	e) partnership
6. Investments in many companies can be made by buying shares on this market	f) directors
7. The public can be shareholders in this company	g) private limited
8. The golf club was set up with the intention of not making a profit	h) debentures
9. Fifty-one percent of the voting shares of this company are held by another company	i) public limited
10. This is the meeting which is held once a year for the shareholders	j) holding company
This exists when several companies are in a relationship of owning and being owned	k) annual general meeting

V The process of developing a corporate plan goes through several stages. Put the items (a-i) below in the correct place on the corporate plan:

a)  Setting corporate policies and deciding about where the organization wants to go in terms of performance and results.

b)  Identifying opportunities and threats and analyzing the major strength and weaknesses of the organization.

c)  Preparing action plans and setting targets for different departments.

d)  Analyzing production facilities and personnel currently at work and analyzing current trading activities.

e)  Agreeing on the strategies which the organization will adopt.

f)  Considering the expectations of the employees, the customers and the shareholders.

g)  Assessing possible future actions of competitors and studying economic forecasts and social trends.

h)  Reviewing the economic, political and social factors which are affecting the organization.

i)  Considering alternative strategies.

Developing	A corporate plan
Assessment stage:
- external environment	Analyzing raw materials, skilled labour and other resources which the organization can use and 1)…….
- organization	2)……..
- future	3)…….
- shareholders’ expectations	4)…….
Objective stage	5)………
Appraisal stage (SWOT)	6)………
Evaluation stage	7)………
Strategic plan	8)………
Operational planning	9)…….

VI. Translate into English:

1.  Существует несколько видов правовой организации бизнеса, Но наиболее популярной является акционерное общество.

2.  Акционерное общество может состоять из двух как физических, так и юридических лиц.

3.  Акционерное общество в Великобритании должно составить два документа – меморандум и устав, которые должны содержать следующие пункты: название компании, официальный адрес правления, цели образования компании, ее уставной капитал и установленная номинальная цена акций.

4.  В уставе акционерного общества отражаются основные положения, касающиеся Совета директоров и Правления.

5.  Ликвидационная комиссия при добровольной ликвидации общества избирается Общим собранием в порядке, предусмотренным Уставом и Положением о ликвидационной комиссии.

6.  При принудительной ликвидации Ликвидационная комиссия назначается судом (арбитражем).

7.  Существует два основных вида акционерных компаний – частная и государственная.

8.  В Уставе акционерного общества определяется состав совета директоров, правление, генеральный директор.

9.  Совет директоров является доверенным лицом подписчиков капитала.

10.  Совет директоров управляет организацией при помощи высшего исполнительного руководства.

Text B

Organization structure

Vocabulary

Relationship	Взаимоотношение
Position	Должность, место
To hold a position	Занимать должность
Organization structure	Организационная структура
Level	Уровень
Sales manager	Управляющий по торговле и маркетингу
Salesman	Продавец, торговец
To have direct authority over smb	Иметь прямую власть над кем-либо
Staff	Штат, персонал
To give orders	Отдавать приказы
To take orders	Принимать приказы
Line department	Линейный отдел (имеющий непосредственное отношение к конечному продукту)
Staff department	Административный отдел (не имеющий прямого отношения к производству, но обслуживающий его)
To be tied in with a company product	Иметь отношение к конечному продукту
Organizational chart	Организационная схема
Line position	Линейная должность
Immediate superior	Непосредственный начальник
Immediate subordinate	Непосредственный подчиненный
Line chain of command	Линейная структура подчинения
To report	Сообщать, информировать о чем-то
Credit department	Кредитный отдел
Span of control	Сфера непосредственного подчинения
Vice-president of production	Вице-президент по производству
Vice-president of marketing	Вице-президент по сбыту
Comptroller	Главный финансист
Matrix structure	Матричная система
Department	Отдел
Accounting	Бухгалтерия
Administrative	Административный
Engineering	Конструкторско-технологический
Law	Юридический
Production	Производственный
Purchasing (supply)	Закупок (снабжения)
Packing	Фасовки и упаковки
Finance	Финансовый
Quality control	Управления качеством
Sales	Сбыта
Staff position	Административная должность

I.  Read and translate this text: