FORMS OF BUSINESSES IN THE   U.S.A.

Businesses in the U.S.A. may be organized as one of the following forms:

• individual business

• general partnership

• limited partnership

• corporation

• alien corporation

    An individual business is owned by one person.

    A general partnership has got several owners. They all are liable for debts and they share in the profits.

    A limited partnership has got at least one general owner and one or more other owners. They have only a limited investment and a limited liability.

    A corporation is owned by persons, called stockholders. The stockholders usually have certificates showing the number of shares which they own. The stockholders elect a director or directors to operate the corporation. Most corporations are closed corporations, with only a few stockholders. Other corporations are owned by many stockholders who buy and sell their shares at will. Usually they have little interest in management of the corporations.

 

     Alien corporations are corporations of foreign countries.

All the corporations are to receive their charters from the state authorities. The charters state all the powers of the corporation. Many corporations try to receive their charters from the authorities of the State of Delaware, though they operate in other states. They prefer the State of Delaware because the laws are liberal there and the taxation is rather low. Such corporations, which receive their charters from an outside state, are called foreign corporations.

     All the corporations require a certificate to do business in the state where they prefer to operate.

 

№ 1. Sum up what the text says about:

 

    individual businesses

    general partnerships

    limited partnerships

    corporations

    alien corporations

    foreign corporations

    charters and certificates

 

№ 2. Translate into Russian:

    general partnership to be liable for debts,

    to share in profits, limited partnership,

    to have a limited investment, to have a limited liability corporation,

    closed corporation, certificates showing the number of shares they own.

 

№ 3. Compare the two previous text on the following types of business in the

    U.K. and the U.S.A.:

 

    sole traders – individual businesses

    partnerships – general and limited partnerships

    

Тема: “Регистрация  корпораций  и  обществ”.

Words:

incorporation to regulate act of parliament to register to deliver to certify charter to issue file hereby fee deed stamp stamp duty

корпорация, регистрация, оформление регулировать акт парламента регистрировать представить удостоверять учредительный документ издавать, выпускать дело настоящим, этим сбор печать о совершении дела гербовый сбор

 

Text.

INCORPORATION

 

    All partnership and companies are regulated by the law of the U.K. or by Acts of  Parliament, and are to be registered with the Registrar of companies. In order to be registered they are to deliver a few documents, namely:

     ­ a certified copy of the company’s charter

     ­ stature

     ­ memorandum and others.

When a company is registered a certificate of incorporation is issued by the Registrar.

Here is one of the certificates:

 

Duplicate for the file No 989855