1. Read the text and translate it into Russian: Types of business organization in the United Kingdom

The simplest form of business organization is the sole trader or sole proprietor – one person who provides the capital (the money needed to start), has complete control of the business, keeps all profit ( or bears the loss), and has unlimited liability. It is not necessary to publish the accounts and there are no special legal requirements except that the name of the business must be registered if it is different from the owner’s name. It is easy to start this type of business, but it can be difficult to compete with large firms, and difficult to raise money for expansion. When people open small shops, or work for themselves as plumbers, decorators and so on, they are usually sole proprietors. These are ‘one-man business’ but they can, of course, employ others.

The amount of money available for investing in a business can be increased by forming a partnership of at least two people, who all contribute capital to the business and share the profit in agreed proportions. Like sole proprietors, partnerships have unlimited liability and there are no special legal requirements. Professional people such as doctors, accountants and solicitors often form partnerships.

Private limited company (PLC) has at least two but usually not more than fifty members who provide the capital which is divided into shares. A private limited company is controlled by a Board of Directors elected by the shareholders – one share, one vote. Shares can be transferred only with the agreement of other shareholders and cannot be offered for sale to the general public. The profit is distributed to the shareholders in proportion to the number of shares they own. A private limited company has limited liability and this is indicated by the letters LTD after its name. There are several legal requirements, including the submission of a Memorandum of Association and other documents to the Registrar of Companies when the company is set up, and the publication of annual accounts. Many medium sized companies in manufacturing and retailing are of this type. They do not usually become very large since they must obtain capital for expansion either from the profits or by borrowing from a bank.

Sometimes a private limited company becomes a Public limited company, which must put the letters PLC after its name. A PLC has at least two members but no maximum since it can offer its shares for sale to the public and may, therefore, have hundreds of thousands of shareholders, who have one vote for each share they own. Like private limited companies, PLCs have limited liability, must have a Memorandum of Association, publish their accounts and are subject to many legal requirements as set out in the Companies Act, 1995. The shareholders are the owners of the company and elect the Board of Directors who controls it. Shareholders cannot sell their shares back to the company but they can sell their shares to people who wish to buy on the Stock Exchange. The price of shares will go up of the PLC is making good profits and will go down if it is not doing so well. That part of the profit which is not re-invested in the company is paid out to shareholders as a dividend. It is possible for anyone who succeeds in buying 51% of the shares to gain control of a PLC.