Тексты для дополнительного чтения

Text I.

Forms of Business Organization in Laos.

Under the Business Law (1994), the Ministry of Trade and Tourism (MTT), Department of Enterprise Registration is responsible for registering all businesses in a Company Register. The Business Law makes no distinction between foreign and domestic companies. There are several types of business forms in Laos.

The Business Law regulates the formation, conduct of affairs, and liquidation of all companies. The Bankruptcy Law of 1994 also deals with liquidations. In order for a company to be considered as a lawfully established juristic entity, it must be properly registered with the MTT and obtain an Enterprise Registration Certificate. If no errors or omissions are made in the application form or in the documentation submitted, the application will be processed within 10 to 30 days.

Most importantly, a foreign investor must first obtain a Foreign Investment License (FI License) before applying for a Business License. The Articles of Association of a foreign investor will already have been vetted and approved by the Department of Domestic and Foreign Investment (DDFI) as part of the approval process to obtain a FI License.

Representative and Branch Offices

The FI Law permits the establishment of both representative offices and branch offices in Laos. Under the DDFI interpretation of a representative office, such an office cannot conduct business on its own, but must refer all business operations to units outside the country.The procedures for registering a branch office are the same as for any other type of company. A branch office is regarded as the same legal entity as its parent company. The parent company, therefore, can be held responsible for all liabilities of the branch in Laos.

Partnership

A partnership can be formed between two or more partners to carry out business. There is no capital requirement for a partnership. The partnership can be managed by either or all of the partners or by a designated manager.

Limited Liability Company

A limited liability company is comprised of from one to twenty shareholders. It must have a registered capital of at least kip 5,000,000 ($US 470 as of April 2003). A limited liability company is the most common structure for conducting business in Laos. Its liabilities to others are separate from those of its shareholders.

Sole Trader Enterprise

A sole trader enterprise is a business entity with a minimum registered capital of 1,000,000 kip created by one person who is fully liable for the activities of the entity. The owner of such a business acts on behalf of the entity and may assign a manager to run the business.

Public Company

A public company can be created by a minimum of seven shareholders. All shares in the company must have equal value. Shareholders in public companies are liable up to the limit of their unpaid capital contribution. A public company’s registered capital must be 50,000,000 kip or greater.

The management of a public company is conducted by the Executive Council, which includes 5 to 17 members, including one or two workers’ representatives.

Mixed Enterprise

A Joint-Venture enterprise is a joint enterprise between the state on one side, and other forms of private business entities on the other side. In mixed enterprises, the state must hold at least 51% of the shares.

Text II.

Types of Business Organization

Different types of business entities offer their own distinct benefits and negatives. Generally speaking, it is to the owner's benefit to hire a lawyer to handle the incorporating duties, if needed. The cost is not usually that huge, and lawyers come equipped with red-tape cutting brains (at least the good ones do).

By choosing the best type of business entity from the beginning, people can avoid later problems and costs that are not necessary. Here are the types of business organization to be considered:

General Corporation: Known as a "C" corporation, it may have an unlimited number of stockholders. It usually involves more than 30 stockholders or large public stock offerings, and each stockholder's personal liability is more often limited to their investment.

Close Corporation: Probably the best choice for a lone individual starting a company or one started by a small group of people. The number of stockholders is limited to 30, and directors wishing to sell stock must first offer it to other stockholders.

S Corporation: For those who wish to be taxed as if they were still sole proprietors or partners. It pays federal income tax on its profits, offers limited liability for the individual. S Corporation income is reported only on the stockholders' personal income tax. There can be no more than 75 stockholders.

Sole Proprietorship: One person owns and runs the company and is responsible for all liability, profit, or loss.

Partnership: Two people go together to form a business, and together are responsible for all liability, profit, or loss. Types of partnerships include general, limited (where only one of the two is liable for the partnership beyond making a contribution, and joint venture (in place for a pre-determined amount of time).

There are a number of things to consider when starting a business. For those who engage in a small business, such as a sole proprietorship, a partnership, or a small S Corporation, they must consider all things good and bad that can happen and then make plans to deal with those things.

The bottom line is that a business is a business and cannot be operated like a hobby. That doesn't mean you can't enjoy it, but it does mean you have to pay attention to the same details that every business must in order to make it profitable. And, believe me, there is no greater enjoyment in business than profit.

Text III.

Forms of business organization

(partnership)

Business activities can be operated under various forms, such as sole proprietorships, partnership, limited company, etc. In deciding under which form the business should be operated, one must consider various essential elements such as nature of the trade, capital investment, knowledge and ability to operate the business, etc. in order to be successful.

There are two different types of Partnership, i.e. General Partnership and Limited Partnership. The general rules governing all two forms of partnership are basically the same but the liabilities of the partners differ significantly, depending upon the type of the partnership.

General Partnership

A general partnership is a private contractual relationship among the partners and is defined as a partnership in which all partners are, jointly and unlimitedly, liable for all of the obligations. Each partner must contribute either money, property or services to the partnership. If the partnership contract does not specify the devising of profits or losses, the share of each partner in the partnership's profits and losses is in proportion to his or her contribution.

All partners are bound by the acts done by any of them in the ordinary cause of the business of the partnership. No partner may acquire an individual right against a third person by virtue of a transaction in which his own name did not appear individually.

A partner who has withdrawn from the partnership still remains liable for the obligations incurred on account of the partnership before his or her withdrawal. A new partner is liable for all the partnership obligations incurred prior to his or her becoming a partner. All partners in general partnership have equal right in the management of the partnership.

Limited Partnership

Limited partnership has two type of partners, i.e. those with a limited liability and those with unlimited liability. For the limited partner the liability is limited to the amount of their contribution to the partnership. The general partners are jointly and unlimitedly liable for all obligation of the partnership. The law requires that there must be at least one unlimited liability partner, general partner, in a limited partnership.

A limited partnership must be managed by the general partners only. Unlike a partner in a general partnership, a limited partner in a limited partnership may carry on any business even if it is in competition with the partnership. A limited partner may transfer his or her interest in the partnership without consent of the other partners. The death of a limited partner or his or her bankruptcy or incapacity does not give right to the dissolution of limited partnership.

Text IV.

Freedom of Incorporation

Negative opinion regarding corporations persisted through to the turn of the eighteenth century, although in England chartered companies made significant inroads in the insurance and transportation industries due to the need to raise large amounts of capital and to diversify risk. Moreover, quasi-corporations existed in shipping and tin mining. These sectors were under the special jurisdiction of admiralty and stannary courts. Both court systems operated under the principle of customary law, where legal principles adapted to suit business practice instead of conforming to a set of abstract legal principles, as was characteristic of both civil and natural law.

In contrast, under the common law, many corporations had to constitute more circuitously, given the difficulty of obtaining a charter. Through the trust device, promoters hoped to establish joint-stock firms having transferable shares and the ability to sue and be sued. However, this device could not be used to attain limited liability. Beginning in the last quarter of the eighteenth century, such unincorporated companies appeared in the silk, wool, food, and beer industries, but were notably absent in the cotton and metal industries. In this period the number of companies increased five-fold, and many of them were unincorporated.

The growth in unincorporated businesses occurred despite their illegality under the Bubble Act (1720). This act had been dormant but was resurrected in a number of court rulings in the period 1808 to 1812. The legal threat to the unincorporated companies dissipated only when the act was repealed in 1825. Under a strict interpretation of the common law they were still illegal, but a business-friendly regime at both the chancery- and common-law courts had ruled that such companies were in the public interest. However, continued uncertainty prompted Parliament to enact company legislation that had as its main tenet freedom of incorporation. A chief concern focused on whether freedom to incorporate should be constrained to guard against overpromotion and stock speculation. However, lessons from incorporation experiences in the United States and France ultimately resulted in the English Companies Act of 1844 granting freedom of incorporation, and leaving investors to protect themselves. However, corporations were required to accurately report half-yearly earnings to stockholders.

Freedom to incorporate with limited liability in Britain did not come until 1856. Free incorporation with limited liability soon followed in France, and by 1860 most U.S. states had adopted it. Finally, by the last quarter of the nineteenth century many continental European nations had followed suit, ushering in the modern corporate era.

Text V.

S Corporation: Form of business organization

An “S Corporation” is a corporation that elects to be taxed under Subchapter S of the Internal Revenue Code and receives IRS approval of its request for Subchapter S status. As a legal entity, the S corporation is separate and distinct from the corporation’s owners (the stockholders).

An S corporation can issue only one class of stock. Prior to January 1, 1997, an S corporation can have no more than 35 stockholders. In tax years beginning after December 31, 1996, the maximum number of eligible stockholders is increased from 35 to 75.

After December 31, 1996 a testamentary trust can hold S corporation stock for up to two years from the date of the grantor’s death. (Prior to January 1, 1997, the holding period is 60 days.) Generally, this change will make it easier to settle an estate where a testamentary trust is established and receives S corporation stock in the estate settlement process. Consult your attorney for advice and guidance on applications of this longer holding period to the administration of any testamentary trust that receives S corporation stock.

As a separate legal entity, the corporation finances and records are established and maintained completely separate and distinct from the finances and records of the stockholders. Through a resolution adopted at a stockholders meeting held in accordance with the bylaws of the corporation, one or more officers or employees of the corporation are authorized to conduct business on behalf of the corporation. The resolution typically includes an authorization with specified limits to borrow and repay funds as needed for business operations. Credit arrangements are made in the name of the corporation with loan documents signed by the authorized person or persons after the lender has received a certified copy of the authorizing resolution. If the corporation is newly formed, small (has few assets), or has a limited record of credit use, it’s likely that a lender will require personal guarantees by one or more officers or stockholders before approving a credit application received from the corporation. If personal guarantees are given, the signer(s) usually have unlimited liability for the debts of the corporation.

The Corporate Charter includes information on the purpose(s) for which the corporation is organized and the life of the corporation. (A corporation often has perpetual life.) Bylaws of the Corporation are the “rules” for conducting the organizational life of the corporation.

Moderate legal costs are incurred in setting up a typical S corporation and annual costs are incurred for stockholders meetings, tax return preparations, and preparing other yearly reports and summaries as needed for management and as desired by stockholders. Public notice of the formation and continued operation of a corporation is required and is accomplished through filings with the Secretary of State’s Office.

Vocabulary

A, a

accession, прирост; прибавление; пополнение, увеличение

ad hoc, (лат.; букв. «к случаю» 1) специальный, устроенный для данной цели, для данного случая

aggregate, совокупный, общий

agreement, договор, соглашение

amount, величина, количество

annual, ежегодный; годичный, годовой

costs, годовые затраты

general meeting (AGM), ежегодное общее собрание

return, годовой отчет

arbitrage, скупка и продажа ценных бумаг

arbitration, третейский суд, арбитраж

arcade, аркада, пассаж

articles of association, устав компании [товарищества, акционерного общества] определенных условий )

the Asia-Pacific Economic Cooperation (APEC), Азиатско-тихоокеанское экономическое сотрудничество

assets, актив(ы); авуары

assignee, уполномоченный

attorney, поверенный

B, b

on behalf of , от лица, от имени (кого-л.)

bilateral, двусторонний

Board of Directors, управление

borrowing requirements, потребность в заимствованиях (обычно о государстве и государственном бюджете )

box store, магазин складского типа, склад самообслуживания

branch office, филиал

bribery, взяточничество

business, бизнес, коммерческая деятельность

corporation, амер. торгово-промышленная корпорация (занята в промышленности или торговле)

entity, фирма, компания, коммерческая организация, хозяйственная единица

practice, практика деловых отношений

bylaws, устав корпорации

C, c

сapacity, вместимость, емкость, пропускная способность

capital market, рынок капитала

requirement, потребности в капитале

the Caribbean Community (CARICOM), Сообщество стран Карибского бассейна и общий рынок

cash-balance theory of money, теория кассового остатка (остатка денежных средств на банковском и т.п. счете)

the Central American Free Trade Agreement (CAFTA), Центральноамериканское соглашение о свободе торговли

certified copy, заверенная копия

chartered company, компания, организованная на основании правительственной концессии

CIS (Commonwealth of Independent States), СНГ, Содружество Независимых Государств

commerce, (оптовая) торговля; коммерция

commercial, коммерческий, торговый; занимающийся торговлей

commitment, обязательство

commodity, товар, продукт для продажи

Companies Act, закон «О компаниях» (общее название законов, принимаемых начиная с 1844 г. и направленных на установление основных правил ведения бизнеса)

company secretary, управляющий делами фирмы; главный бухгалтер; финансовый директор

comparative advantage, сравнительное преимущество

compete, конкурировать

competition, конкуренция

perfect competition, совершенная конкуренция

imperfect competition, несовершенная конкуренция

competitive position, конкурентоспособность, способность вынести конкурентную борьбу или вступить в нее

competitor, конкурент

contract, контракт, договор, соглашение

binding contract, юридически обязательный договор

nominate contract, договор определённой классификации, договор определённого установленного вида

contractual relationship, договорные отношения

corporate, корпоративный, общий

assets, активы корпорации

member, корпоративный акционер

cooperation, кооперация, сотрудничество, взаимодействие; объединение усилий, совместные действия

corporate entity, корпорация, юридическое лицо, правосубъектная организация

corporation, акционерное общество; корпорация

corporation sole, единоличная корпорация

stock corporation, акционерная корпорация

costs, затраты, издержки

credit application, заявка на получение кредита [займа, ссуды], заявка на кредит [заем, ссуду]

culminate, закончиться, завершиться, увенчаться (чем-л.)

currency, средство денежного обращения, деньги, валюта

D, d

dampen, уменьшать, ослаблять, притуплять

dealer, биржевик, делец, дилер, коммерсант, торговец

deficit, дефицит; нехватка; недочет

delivery, поставка, доставка

demand, спрос (на что-л. - for)

department store, универсальный магазин, универмаг

developing countries, развивающиеся страны

distribute, распределять, раздавать

dividend tax, налог на дивиденды (налог, взимаемый с суммы начисленных дивидендов; обычно вычитается компанией при выплате дивидендов акционерам)

do business, вести дела, заключать сделки

domestic, внутренний; отечественный, находящийся в пределах страны

production, внутреннее производство

savings, внутренние сбережения

E, e

earn, зарабатывать, получать доход, получать прибыль

earnings, 1) заработок, доход, заработанные деньги; 2) прибыль, чистый доход

econometric analysis, эконометрический анализ (эконометрика – изучение экономических явлений на основе анализа данных с применением методов математики и статистики)

economic theory, теория экономической деятельности

economics, экономика; народное хозяйство

macroeconomics, макроэкономика

microeconomics, микроэкономика

economy, хозяйство, экономика, народное хозяйство

mixed – смешанная экономика

market – рыночная экономика

command – административно-командная система

e.g. (exempli gratia), например, напр.

embargo [em'ba:gəu], юридический запрет на осуществление торговой деятельности

employ, предоставлять работу; нанимать

end-user, конечный (непосредственный) потребитель

enterprise, промышленное предприятие

environmentalism, экологизм, энвайронментализм (учение об окружающей среде)

equilibrium, баланс, равновесие, устойчивость; равновесность

EU (European Union), ЕС (Европейский союз)

excess, избыточный; превышающий норму

exchange, обмен; бартер

rate, валютный курс

value, меновая стоимость

stock exchange, фондовая биржа

expensive, дорогой, дорогостоящий, ценный

export, экспорт, вывоз

demand, спрос на экспорт

financing, финансирование экспорта, экспортное финансирование

exports, предметы вывоза, статьи экспорта

F, f

fair, честный, справедливый

price, настоящая цена

trade, торговля на основе взаимной выгоды

filing requirement, условие картотечного хранения

financial sector, финансовый сектор

fine, взыскание, штраф, пеня (денежные); наказание, ответственность (любого рода)

franchising, договор коммерческой концессии, франчайзинг

free trade, беспошлинная торговля

G, g

GATT (General Agreement on Tariffs and Trade), Генеральное соглашение по таможенным тарифам и торговле (стран Атлантического союза)

GCC (Gulf Cooperation Council), Совет по сотрудничеству стран Персидского залива

GDP (gross domestic product), валовой внутренний продукт, ВВП (совокупная стоимость товаров и услуг, созданных внутри страны за определенный период (обычно за год); один из основополагающих макроэкономических показателей)

general, общий

meeting, общее собрание

partnership, полное товарищество, товарищество с неограниченной ответственностью

goods, товар; товары

globalization, глобализация

grantor, даритель, жертвователь

gross national product (GNP), валовый национальный продукт (ВНП)

I, i

i.e. (id est), то есть

import, импорт; импортирование

imports, импорт (когда речь идет о стоимости или количестве ввезенных товаров)

income, доход, приход, прибыль; заработок

tax, подоходный налог (налог, взимаемый в виде процента от доходов физических лиц или домохозяйств)

implement, выполнять, осуществлять; обеспечивать выполнение, приводить в исполнение

increase ['inkri:s], возрастание, рост; прибавление, прирост, разрастание, расширение, увеличение

indebtedness, задолженность (наличие долговых обязательств по отношению к кому-л.)

industry, индустрия, промышленность, производство

inflation, инфляция

inputs, затраты (на производство)

insurance, страхование

interest, проценты (на капитал)

rate, ставка процента, ссудный процент

Internal Revenue Code (IRS Code, IRC), кодекс внутренних доходов, кодекс законов о внутренних доходах (свод федеральных законов, относящихся к сфере налогообложения (США); впервые кодекс был принят конгрессом в 1954 г. и многократно изменялся и поправлялся)

Internal Revenue Service (IRS), Внутренняя налоговая служба США

International, интернациональный, международный

economics, международная экономика (часть экономической науки, изучающая международные экономические отношения: торговлю, кредитование, миграцию ресурсов, интеграцию).

Labour Organization (ILO), МОТ, Международная организация труда (специализированный орган ООН)

markets, мировой [всемирный, глобальный, международный] рынок

trade, международная торговля

investment, 1) инвестирование, вложение денег, капитала; 2) инвестиции, капиталовложения

goods, инвестиционные [капитальные] товары, средства производства

issue, пускать в обращение

issue, выпуск

J, j

John Company, Ост-Индская компания

joint stock company (JSC), акционерная компания, акционерное общество (A/О, АО)

L, l

labelling, маркировка, маркирование (проставление марки, клейма на каком-либо товаре (изделии) с обозначением места изготовления, качества и т. п., наклейка ярлыков, этикеток, навешивание бирок)

labour, труд

laissez-faire, невмешательство (правительства в дела частных лиц, особенно в частный бизнес и торговлю)

launch, начинать (что-л., какие-л. действия)

legal, правовой, юридический; судебный

costs, судебные издержки

entity, юридическое лицо

lender, заимодавец, кредитор

liability, ответственность, обязательство

liberalization, либерализация, ослабление (давления политического режима)

lifetime, продолжительность жизни; целая жизнь

limited, ограниченный, лимитированный

company, товарищество, общество, компания с ограниченной ответственностью

liability, ограниченная ответственность

liability company (LLC), товарищество, общество, компания с ограниченной ответственностью

partner, компаньон-вкладчик, компаньон с ограниченной ответственностью

partnership, товарищество на вере, коммандитное товарищество

living standard, жизненный уровень, уровень жизни, материальное благосостояние

living standards, жизненный уровень, материальное благосостояние

M, m

machinery, машинное оборудование; машины

mall, галерея магазинов

strip mall, длинное одноэтажное здание, разделенное на секции, в которых размещаются магазины

management structure, структура управления

manufacture, производство; изготовление; обработка

market, рынок (сбыта) ; сбыт; спрос

share, доля рынка (удельный вес компании в общем объеме рыночных продаж)

medium of exchange, средство обращения (функция денег, состоящая в обеспечении обмена одних товаров или услуг на другие)

memorandum of association, устав акционерного общества, устав юридического лица

mercantilism, меркантилизм (первая школа политэкономии)

merchandise trade, внешняя торговля товарами

MERCOSUR (Common Market for the South), Общий рынок стран Южной Америки (экономический союз Аргентины, Бразилии, Парагвая и Уругвая)

multilateral trade, многосторонняя торговля

N, n

NAFTA (North American Free Trade Agreement), Североамериканское соглашение о свободе торговли (НАФТА). Межгосударственный пакт о взаимном регулировании тарифов и условий торговли между США, Канадой и Мексикой. Предполагал создание зоны свободной торговли в Западном полушарии к 2005.

nationalize, национализировать; превращать в собственность государства

negotiation, переговоры; обсуждение условий

newly industrialized country (NIC), Новые промышленные страны