Vocabulary

accrue v нарастать

alienate v отчуждать

charter capital n уставный капитал

consumption cooperative n потребительский кооператив

derive v получать, извлекать (доход, прибыль)

dismissal n прекращение (дела); увольнение

entrepreneurial activity n предпринимательская деятельность

infringe the rights v нарушить права

participatory shares n акции, дающие право на участие в прибылях

proceeding from исходя из

provided that при условии, что

provision n условие

recourse to court обращение за помощью в суд

stipulate v обусловливать, оговаривать

vehicle n зд. средство

withdrawal from the company выход из компании

Reading tasks

Answer these questions.

1 How are legal entities divided?

2 What are commercial organizations?

3 What are non-commercial organizations?

4 What organizations do commercial legal entities include?

5 What are the names of non-commercial organizations?

6 What are the four characteristics of commercial organizations?

7 What are the main distinctions between commercial partnerships and companies?

8 What are joint-stock companies?

9 Which companies may issue shares?

10 Who may be a founder of a joint-stock company?

11 What is the role of Federal Laws in the operation of joint-stock companies?

12 What is a limited liability company?

13 What are the main distinctions between a limited liability company and a joint-stock company?

Language focus

A Adjective formation. Add the prefixes in-, ir-, il-, ab-, or un – to each of these words to form an opposite.

1 dependent 2 respective 3 likely 4 legal 5 normal

6 limited 7 restricted 8 direct 9 formal 10 comparable

B Match these words (1-8) with their opposites (a-h)

1 compulsory 2 asset 3 hostile 4 oppose 5 purchase 6 consolidation 7 newly-formed 8 dissolution

a formation b division c pre-existing d approve e voluntary f liability g sale n friendly

Vocabulary tasks

Complete the sentences with the words and phrases from the box.

privatization Federal Law charter registration association development property share contributions legal entities joint- stock companies establish

1 One or more Russian or foreign ___________ and individuals may __________ a Russian legal entity.

2 The conversion of large enterprises into join- stock companies in the process of __________ have facilitated the __________ of investment and business activities in Russia.

3 A non- commercial legal entity executes its activities on the base of the _________.

4 The consumer cooperative is a voluntary __________ of individuals and legal entities. It is based on a membership and is aimed to satisfy the participants’ material and other needs by the way its members put together their __________.

5 The formation of a business entity in Russia, including __________ and limited liability companies, generally does not require the prior approval of any governmental entity.

6 The __________ of a legal entity is conducted in accordance with the Federal Law.

7 For all legal entities, except partnerships, a __________ must be presented for registration.

Over to you

You are going to interview the businessman who has recently founded a company about the requirements and documents necessary for company registration. What questions will you ask him?