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9
Public (limited) company – a limited company which can offer its
shares and debentures to the public; there is normally no limit to the right of its
members to transfer their shares to other persons. (There is no limit to the total
number of members except that there must be at least seven).
Unlimited company – a company of which the liability of the members is
unlimited, i.e. each member has to pay his/her full share of the debts of the
company if it is brought to an end.
Close company/ close(ed) corporation – (AmE) a company of which the
share capital is held or controlled by relatively few persons (five or fewer
persons), or by persons who are all directors of the company (The shares of a
close company are not publicly traded. A company of this kind must either pay
out a large part of its profit as dividend or be classed for tax purposes as a
private person.
Offshore company – located or based in a foreign country and not
subject to tax laws.
Firm – 1. (law) partnership an association of two or more persons who
have formally agreed to work together as partners;2. (commerce) any business
organization or commercial house, whether it is a partnership or not, often a
company, especially a small one; 3. the name or title under which a partnership
or company transacts business e.g. the firm of Smith & Jones.
Task 7. Translation.
Read the text and find out about the people and the companies mentioned.
Translate the text.
9 Public (limited) company a limited company which can offer its shares and debentures to the public; there is normally no limit to the right of its members to transfer their shares to other persons. (There is no limit to the total number of members except that there must be at least seven). Unlimited company a company of which the liability of the members is unlimited, i.e. each member has to pay his/her full share of the debts of the company if it is brought to an end. Close company/ close(ed) corporation (AmE) a company of which the share capital is held or controlled by relatively few persons (five or fewer persons), or by persons who are all directors of the company (The shares of a close company are not publicly traded. A company of this kind must either pay out a large part of its profit as dividend or be classed for tax purposes as a private person. Offshore company located or based in a foreign country and not subject to tax laws. Firm 1. (law) partnership an association of two or more persons who have formally agreed to work together as partners;2. (commerce) any business organization or commercial house, whether it is a partnership or not, often a company, especially a small one; 3. the name or title under which a partnership or company transacts business e.g. the firm of Smith & Jones. Task 7. Translation. Read the text and find out about the people and the companies mentioned. Translate the text.
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