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Background information about the organization.

VI. Answer the questions | COMPREHENSION CHECK | Study carefully the meaning of the following phrases and word combinations to avoid any difficulty in understanding the following text. | COMPREHENSION CHECK | VI. Translate into English | STARTING A BUSINESS | TYPES OF BUSINESS | Sole Trader | Study carefully the meaning of the following phrases and word combinations to avoid any difficulty in understanding the following text. | THE SOLE PROPRIETOR |


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What sort of company is it?

Charity an organization to relieve poverty, advance religion or education, etc; benefits from some financial concessions.
Company (UK) an organization operating to make a profit corporation (US)
Cooperative a democratic firm owned by its workers.
Enterprise a new commercial activity [for example How's your new enterprise? Also in some company names; for example, Smiths Enterprises (enterprise = firm)
Government agency an organization which is part of the state administration.
Holding company a firm, usually without commercial activity, created to be parent to other companies.
Limited company a firm where shareholders' liability is limited.
Minority interest company in which another firm has less than a 50 % interest.
Multinational an organization operating in several countries.
Nationalized company company owned by the state.
Offshore company a firm based in a tax haven to avoid higher taxation.
Operation a general word for a company, usually a small one, part of a large group. It also means-activity; for example, our commercial operation.
Parent company a company which owns another.
Partnership two or more partners working together for profit, without limited liability.
Private company a company whose shares are not publicly available.
Public company a company whose shares are publicly available.
Society a friendly association of people; for example, a sports society (society = firm).
Subsidiary (affiliate) firm owned by a parent company.

 


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