Выпишите глаголы в страдательном залоге и определите их время? Basic forms of business organization
All businesses are known to take one of three basic forms: the sole proprietorship, the partnership and the corporation. Which of these forms of organization you choose depends on such questions as the size of your business, whether you are the only owner of your business or you have partners.
A sole proprietorship is a business that is owned, and often run, by one person (usually taking the title of President) who receives all the profits and bears all the liabilities of the business. Such kinds of business are in the service industries such as repairing shops, restaurants, etc.
A partnership is a voluntary legal association of two and more people for the purpose of running a business. And each partner declares his or her share of profit or loss on the personal income tax return. Partnership has some disadvantages. This business fails when one of the partners loses his interest or disagrees with the other.
A corporation is a firm that exists as an independent legal entity, with ownership divided into shares. The owners of the shares are known as stockholders or shareholders. A key feature of the corporation is the limited liability. It means that the liability of the stockholders for debts of the firm is limited to the amount of money they paid to buy shares. There are some advantages such as being able to attract financial resources, and to attract talented specialists and managers due to high salaries. In general, this form is economically better for business when its profit reaches a great amount of money.
Since no one form of business organization is perfect, the so-called hybrids have been devised like: franchises, limited partnerships, cooperatives and joint ventures.
By the end of 1987 over 250 foreign firms had expressed an interest in setting up joint ventures in the territory of the ex-USSR. It was decided that joint ventures would contribute to further development of the country’s trade, economic, scientific and technical cooperation. A lot of joint ventures have been set up in different branches of industry and in the service sector since Russia started carrying out major economic reforms. Joint ventures play an important role in attracting foreign technology, management experience and additional material and financial resources. There are certain legal requirements for Russian and foreign participants wishing to set up a joint venture. A joint venture must be a legal entity to have the right to conclude contracts in its name.
