exam-summary-jazyk-i4-anglictina-pro-pravniky
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may be established with a perpetual life, corporate structure required
(shareholders, directors, oicers,…)
members are liable for its debts depending on the type of company (e.g.
limited by shares, unlimited)
public (Plc.) x private (Ltd.)
depends on whether the company ofers its shares to the public
produces subsidiaries (the original company is then referred to as parent or
holding company)
pays corporate tax
seing up a private limited liability company
(in the UK)
registraion (incorporaion) with the Companies House
o
illing out a form (company name, locaion of oice and
share capital informaion)
o
drating a memorandum of associaion (incorporaion)
informaion about the members and share capital
o
aricles of associaion (by-laws in the USA)
details of running the company, internal
management
o
ater meeing all the requirements, a ceriicate of
incorporaion is issued
terminaion or dissoluion
various reasons
o
company ceases to exist and is removed from the register
o
objecives of the company are illegal
o
liquidaion
process called winding up, voluntary or involuntary,
when the company becomes insolvent
insolvency of private individuals is called bankruptcy
(in the USA this term refers to both individuals and
companies)
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vocabulary
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o
stock exchange (market) = a place where shares are sold and bought (akciová burza)
o
tax haven = places to evade tax
o
(hosile) takeover = bidder ofers to buy a certain number of shares to take control of
the company (if the board of directors refuse the ofer, yet the bidder keeps
pursuing the goal)
o
shares
freely transferable
owners may be paid a dividend (a proporion of proit made)
o
debentures (bonds) = instruments used to borrow money at a ixed rate of interest