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1) the liability of a firm's owners for no more capital than they have invested in the business – limited liability
a person that owns/holds a share or shares of stock
an individual or a company that is allowed by law to take legal action
someone who lends money or gives credit in business matters
anything of material value or usefulness that is owned by a person or a company
in a dishonest manner
a sum of money lent at interest
A company
Companies are separate legal entities to their shareholders. This provides shareholders with limited liability from any of the business’s debts beyond the value of their shares in the company (this is what Limited or Ltd stands for in a company name). However, if a shareholder is involved in the running of the business (as a director, for example), and he or she is found to have traded recklessly, fraudulently or not in the company’s best interests, they can still be made liable. Most financial lenders will only give a business loan in exchange for a personal guarantee overriding limited liability.
There are two types of companies: private and public. Private companies have their shares owned within a private group, like a family for example, so they can retain control. Public companies have their shares publicly listed on the stock exchange so they’re available to be bought by the general public and other companies.
Regardless of whether it’s a private or public company, shareholders have what is called limited liability. This means they can lose the value of their shares in the business. They’re not responsible for any other debts or liabilities the company owes.
As the company is a separate entity, it owns all the assets and all the liabilities itself. This separation also means the company is not tied to one individual or one generation of owners, so it can last for as long as it remains viable.
Insert the right preposition. Consult the text. Translate the expressions.
1. to be provided with limited liability
39. to be listed _____ the stock exchange
40. to be responsible _____ debts
41. Ltd stands _____ limited
42. to be given _____ exchange _____ a personal guarantee
43. to be tied _____ an individual
44. to be involved _____ the business
45. to trade _____ the company’s interests
Match the English phrases from the text 2 with their Russian equivalents.
To give a loan а) сохранять контроль
To run a business b) быть должником
To own assets c) обесцениваться (об акциях)
To owe a debt d) руководить предприятием
To retain control e) владеть активами
To lose the value f) предоставлять заем
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| Match the English phrases from the text 1 with their Russian equivalents. | | | Read the text about different types of companies and answer the following questions. |