- •I. A) Match the company to its definition. Pay attention to the words in bold:
- •II. Study abbreviations of different types of companies and name them in the box below:
- •III. Read the following texts. Choose either Co. Or Corp. To write a summary according to the plan:
- •Text 1. Co. & Corp. (Companies and Corporations)
- •4. Rusia Petroleum open Joint Stock Co.
- •I. What Companies or Corporations would you like to choose to run your own business? Explain your choice, using the following phrases if it is necessary:
- •II. Read out the following international words:
- •III. A) Look the meaning and pronunciation of these words in the dictionary:
- •IV. Read the text and name the types of companies in Bulgaria: Text 2. Types of companies
- •V. Read the text once more and complete the table:
- •VI. What form of business suits the following characteristics?
- •VII. Complete the table:
- •VIII. A) Read the text №3 “The Kovyktinskoye gas-condensate field” below and find the information according to the plan:
- •Text 3. The Kovyktinskoye gas-condensate field
- •IX. Language Notes. What can you say about The Kovyktinskoye gas-condensate field? Use the phrases below:
- •II. Language Notes. Company structure
- •IV. Seventeen people are describing their jobs. Match the people (a-q) with the department they work in. The first one is done for you.
- •V. А) Imagine that you are planning to start you own business. Make a profile of your business according to the plan. Use the key phrases for your description:
IV. Read the text and name the types of companies in Bulgaria: Text 2. Types of companies
Sole proprietorship (ET): Physical person can be established by a Bulgarian citizen or a foreigner having the status of constant residence in Bulgaria. One person can register only one sole proprietorship. There is no limit for the minimum capital of such company. Founder is liable to the whole amount of personal and company assets. Recommended form if the scope of activity and capital are limited. The name of the company includes the name and surname of the founder. As the business is personal to the owner, it is liquidated upon the death of the owner. When a proprietor wants to expand a business, one way to do so is to form a partnership.
Partnership: Partnership is the most common form of personal companies. Normally, the partners in these companies know each-other very well. The number of partners should be not less than two and they carry the joint and unlimited responsibility under obligations of the company. It means that all partners are liable for debts of the business. Mutual relations between founders are determined by the constituent contract and regulated by laws. They are obligated to participate in the activity of the company in person. There is no minimum capital for setting up such a company. This legal form is suitable for ones who have limited
Limited partnership: One or several co-founder bear joint and unlimited responsibility for the liabilities of the company and the others – only to the amount of their share in the capital. The management is done by the first group of co-founders. The second group doesn’t take part in the management and decision making process.
Limited liability Company: The limited liability company is the most suitable form for the average capital. The minimum capital required by law to set up such a company is 5000 BGN. Due to the advantages it has, this form has received wide popularity in Bulgaria. The procedure of registration is simple, the size of minimum capital required – relatively small and there is no publicity of the activity. By the moment of submission of documents on registration, the establishment capital of the company should be brought in size not less than 70 %. The rest of it - within one year. The share of one co-founder in the company capital cannot be less than 10 leva. The number of founders is not limited. Management and representation are done by one or several co-founders, or a manager, who may not be a partner. The number of co-founders can be changed at any time after the company is registered. All changes in the constituent documents should be registered in court. Founders of the limited liability company could be physical or legal persons as well as just one person. Then the company is EOOD (abbreviation in Bulgarian). The founder of EOOD can personally manage and represent the enterprise or appoint another person.
Joint-Stock Company: The shareholders are united only by the capital. Capital is divided into equal parts. The shareholders participate in the company to the number of their shares and are not obliged to take part in management personally. The minimum capital for the joint –stock company should be 50 000BGN. (on a face-value of shares), and in case of formation of the company through a subscription – 100 000BGN. The operating and managing body of the joint-stock company is the board of directors.
(http://www.imotifendora.com/pageen.php?P=52&SP=58)