Go for your Business English. Новосельцева Н.Н - 33 стр.

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2
What is what?
1 The types of business organization.
*Registered (Inc.) are organisations are legal entities and have an existence
separate from their owners. Organisations which are not registered
(unincorporated) do not acquire an independent existence.
**You usually describe people such as designers and journalists as
freelancers, and people such as builders and plumbers as self-employed.
I’m the managing director and
main shareholder of a small
company called AdCom Ltd.
“Ltd” means limited company.
The other shareholders and I
have limited liability: we do
not have to use our personal
property, such as a car, to pay
the company’s debts.Our
liability is limited in the event
of the company being wound
up (US=Corporation)
We are Thompson, Styles and
Granville, a small accountancy
partnership jointly owned by
three partners. We have joint
liability for debts. This means
that if one partner defaults, the
remaining partners are liable.
I’m the chief executive of a
British company called
Megaco PLC. “PLC”means
public limited company, so
anybody can buy and sell
shares in Megaco on the
stock market. We must have
an authorized share capital of
at least £ 50,000 of which no
less than 25% must be paid
up.
I’m CEO of Bigbucks
Inc
. “Inc”
stands for Incorporated.
This shows that we are a
corporation, a term used especially
in the US for companies with
limited liability.
I have a small firm called Adman. I
offer public relations advice to
organizations. I am a sole
trader(BrE) or sole
proprietor/owner (BrE,AmE), i.e.
an individual who runs an
unregistered (unincorporated)*
business.
I’m a
freelance
graphic
designer, a freelancer. That
means I work for myself –
I’m self-employed**. I
prefer working
independently for different
companies rather than being
employed by one particular
company. To use an official
term, I am a sole trader.

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