II. Answer the following questions.

1. Why does the number of laws and lawyers increase in the UK?

2. What are the ways of raising capital for companies in the UK?

3. What documents does a new company have to register?

4. Enumerate causes of criminal prosecution.

5. Why do companies employ lawyers?

III. Find in the text the words corresponding to the following definitions.

1. an affair or piece of business which is transacted;

2. the activity of buying and selling goods and services, or a particular company that does this;

3. to get from someone with the intention of giving it back after a period of time;

4. something, esp. money, which is owed to someone else; an obligation;

5. the advantage resulting to the owner of capital from its employment in any undertaking;

6. to engage in one’s service;

7. the state of being or the act of becoming bankrupt.

IV. Decide which of the following statements are true and which ones are false.

1. A limited company may consist of one person only.

2. Limited companies cannot be sued.

3. The members of a limited company do not have to pay any company debts.

4. Companies can be forced to sell off all their assets in order to pay debts.

V. Match the verbs (on the right) with the nouns (on the left).

To regulate money

to rent a company

to borrow business

to employ land

to form people

to pay capital

to raise bonds

to issue debts

6. Make up sentences with the phrases you’ve got.

7. Write a paragraph describing two ways in which a business may raise money.

8. Discuss the laws relevant to running a business in Russia in small groups.

9. Explain the italicized grammar constructions in the following sentences.

1. In order to engage in all of these activities, you need to have some knowledge of basic legal principles.

2. If you do not run your business honestly you may also need a knowledge of criminal law!

3. Nearly every general area of the laws relevant to running a business, and nearly every country has its own set of laws designed specifically to regulate business.

4. If you want to set up a business under English law, the first question to consider is whether or not to form a limited company (or corporation).

5. If the advantage of forming a company is that it offers members some protection in case of bankruptcy, the disadvantage is that there are many regulations to observe in setting it up and running it.

10. Terminology Knowledge Contest.

The students are divided into 2 groups. A person who names the term faster than the others gets a score. The team which has the greater number of scores wins the game.

Terms:

1. The geographical area in which sales are made.

2. Someone who distributes goods in a particular area.

3. A planned programme for advertising.

4. A firm owned by the other term.

5. An agent who holds stocks of goods.

6. Shops selling direct to customers.

7. Money which has to be paid when goods enter the country.

8. Statement of price.

9. A reward to an agent in terms of percentage.

10. A place where building work in progress.

11. The process of releasing goods from the customs.

11. Discussion. Exchange your opinions on the problem.

An efficient business manager must know the laws governing in a country where he runs his business. In business management it is a crucial point, especially when disputes arise.

How must a manager behave in a conflicting situation?

What are his rights by law?

Where can he apply for help?

These are the key questions to answer if you want effective management.