现代商务英语综合教程（上册）课件 unit 4 Modern Corporate Governance

现代商务英语综合教程（上册）Unit4ModernCorporateGovernance延时符目录

ContentsPartOneBackgroundCasePartTwoListeningPracticePartThreeSpeakingPracticePartFourTextAppreciationPartFiveExtension延时符BackgroundCase

QuestionsforDiscussionPart

One

延时符

Introductionto

BusinessStructuresQuestionsforDiscussionHowmanytypesofcorporationscanyouchooseifyoudecidetoincorporateyourbusinessintheUSA?1.Reference:Ifyou’replanningafor-profitventure,thechoicesareCorScorporationsoraLimitedLiabilityCompany(LLC).延时符2.What’sthemaindifferencebetweenaCandanScorporation?Reference:ThemaindifferencebetweenaCandanScorporationisthewayprofitsaretaxed.Thebasicsetupproceduresarethesame,exceptthatanScorporationrequiresthefurtherstepofanadditionalIRSfiling.QuestionsforDiscussionWhataretherequirementsyouhavetofulfillwhilestartinganLLCbusiness?3.Reference:Youarerequiredtofilecorporatearticlesandpayfilingfeesaswithconventionalincorporation.Youalsohavetofilean“operatingagreement,”whichislikeapartnershipagreementandtakestheplaceofcorporatebylaws.“LLC”mustalsoappearaspartofthecompanyname.Andyou’llneedtoelectwhethertohave“pass-through”taxation(likeanScorporation)orbetaxedatthecorporatelevel.延时符4.Haveyoueverthoughtofstartingyourownbusiness?Theanswerisopen.Introduction

to

BusinessStructuresDeterminingyourcompany’slegalstructureisoneofthefirstdecisionsyouwillfaceasanentrepreneur.Ifyoudonothaveabusinessbackground,itmightsurpriseyoutoknowyouhaveseveraloptions,eachofwhichhasdifferenttaxandcapitalraisingconsequences.Educatingyourselfanddiscussingyouroptionswithalawyerareimportantpartsofyourdecision-makingprocess.

SoleProprietorships.SoleProprietorshipsarethesimplest,leastcomplicated,cheapeststructurestoform.ASoleProprietorshipisabusinessthatisbothunincorporatedandisownedandoperatedbyonlyoneperson(thatwouldbeyou!).Sinceyourbusinessisnotadistinctlegalentity,youdonotfileannualbusinesstaxes.Yourbusinesstaxesaresimplyincorporatedintoyourannualpersonalincometaxfilings.ThetaxratepaidonSoleProprietorshipearningsisoftenlowerthanthatonearningsofacorporation.Whilethislegalstructuremaysuitindependentconsultants,itisnotappropriateforthosestartingabusinesswithoneormorecolleagues,orforthoseseekingfundingfromoutsideinvestors.SoleProprietorsalsofaceunlimitedliabilityforanydebtsaccumulatedduringthelifeofthebusiness.延时符Introduction

to

BusinessStructures

Partnerships.Partnershipsareunincorporatedbusinessesoperatedbytwoormoreindividuals.LikeSoleProprietorships,Partnershipsarenotdistinctlegalentities.ProfitsandlossesfromaPartnershipareincorporatedintoeachpartner’sindividualpersonalincometaxesandareallocatedinaccordancewiththe“ArticlesofPartnership,”alegalcontractbetweenthepartiesinvolved.Inadditiontothedivisionofprofitsandlosses,theArticlesofPartnershipalsodeterminethenameofthePartnership,thedatethePartnershipwasformed,thedurationofthePartnership,andtheprovisionsgoverningdisputeresolutionbetweenpartners.Thereareseveraldrawbackstothisstructure.First,Partnershipsarenotsuitedtoraisinginvestmentcapital.Second,partnersinaPartnershipfaceunlimitedliabilityforthedebtsofthePartnership.Furthermore,ifasinglepartnerisunabletomeetanobligationundertheArticlesofPartnership,thentheremainingpartnersareliablefortheoutstandingobligation.Finally,theexistenceofaPartnershipislimitedtothephysicallivesofthepartiesresponsiblefortheentity’sformation.延时符Introduction

to

BusinessStructures

Corporations.UnlikeSoleProprietorshipsandPartnerships,Corporationsaredistinctlegalentitiesseparatefromtheirowners(shareholders)andemployees.Therearetwotypesofcorporations:anS-ClassCorporation,andaC-ClassCorporation.Asaseparateentity,aCorporation’sliabilitiesarenottransferabletoshareholders,andasaresultofitsindependence,aCorporationcanexistbeyondtheyearsofitsfounderssolongasitremainssolvent.ThecombinationoflimitedliabilityandrelativeeaseoftransferringownershipinterestsmakeCorporationsthemostlikelyorganizationstoobtainoutsideinvestment.Mostventure-fundedstartupcompaniesforexample,areformedasC-ClassCorporations.AmajordrawbackofCorporationscomesinthetreatmentoftaxes.Revenuesearnedthroughthisstructurearesubjectto“double-taxation.”Employees&Shareholdersareresponsibleforpersonalincometaxesandtaxesondividendsrespectively,andtheCorporationisresponsibleforanycorporateprofits.延时符ListeningPracticePart

Two延时符

Word

Study

ListeningTask延时符Word

Studyrangev.

tovarywithinspecifiedlimits在……范围内变动alternativen.achoicebetweentwoormorethings;eitherofthesepossibilities两者择一，选择vehiclen.amediumthroughwhichsomethingistransmitted,expressed,oraccomplished媒介；工具；手段enterprisen.

abusinessorganization企业registrationn.theactofregistering;enrollment登记，注册minimumadj.

of,consistingof,orrepresentingthelowestpossibleamountordegreepermissibleorattainable最低的1.Warmupbyreadingthefollowingwordsbeforelisteningtothedialogue.延时符ListeningTaskListentothepassage.Thenfillintheblankswiththemissingwordsyouhear.

While

domestic

companies

have

a

wide

range

of

__(1)__

in

establishing

business

operations

in

China,

foreign

companies

are

more

restricted,

with

the

most

common

businessvehicles

for

foreign

investors

being:

Representative

Offices,Wholly

Foreign

Owned

Enterprises,

andJoint

Ventures.

The

fastest

and

__(2)__

method

for

a

foreign

company

to

establish

a

“footprint”

in

China

is

through

registration

ofa

Representative

Office

ofa

foreign

company.

While

this

is

true,

there

are

certain

__(3)__

that

must

be

considered

when

deciding

whether

a

Representative

Office

isthe

__(4)__

structure.

Wholly

Foreign

Owned

Enterprises

or

limited

liability

companies延时符ListeningTaskwhose

investors

are

__(5)__

foreign

are

quickly

becoming

the

most

__(6)__

method

offoreign

investment

in

China.

While

foreign

companies

once

thoughtthat

alocalpartnerwas

necessaryto

operatebusiness

in

China,

this

is

increasingly

no

longer

the

case

in

a

wide

range

ofindustries.

Generally

a

certain

__(7)__

amount

ofcapital

which

must

be

registered

will

__(8)__

from

RMB

30,000

to

several

millionRMBforlargerprojects.

JointVenturesrefertoaregisteredlegalentitycooperation

between

at

least

one

foreign

investor

and

one

Chinese

investor.

This

structure

was

__(9)__morecommon,thoughithasbeen

steadily

__(10)__.

Choosing

themostappropriatestructureforyourbusinessrequirescarefulthought.延时符ListeningTaskListenagainandchoosethebestanswerfromthechoicesgiven.(1)WhichofthefollowingisNOTconsideredoneofthemostcommonbusinessvehiclesforforeigninvestors?A.RepresentativeOffices.B.WhollyForeignOwnedEnterprises.C.RegisteredLegalEntity.D.JointVentures.(2)The______methodforaforeigncompanytoestablisha“footprint”inChinaisthroughregistrationofaRepresentativeOfficeofaforeigncompany.A.fastestandeasiestB.mostappropriateC.mostcommonD.mostnecessary(3)Toestablisha“footprint”inChinameans______.A.totravelinChinaB.todobusinesswithacompanyinChinaC.toextendbusinesstoChinaD.tostartaformofinvestmentinChinaCAD延时符ListeningTaskListenagainandchoosethebestanswerfromthechoicesgiven.(4)Generally,toestablishaWhollyForeignOwnedEnterprise,aforeigninvestorisrequiredtoinvestacertainminimumamountofcapitalof______intothecompany.A.RMB13,000B.RMB30,000C.RMB1,000,000D.RMB70,000(5)JointVenturesrefertoaregisteredlegalentitycooperationbetween______.A.ChineseinvestorsB.atleastoneforeigninvestorandoneChineseinvestorC.foreigninvestorsD.oneforeigninvestorandoneChineseinvestorBB延时符ListeningTask(Script)Listentothepassage.Thenfillintheblankswiththemissingwordsyouhear.

While

domestic

companies

have

a

wide

range

of

alternatives

in

establishing

business

operations

in

China,

foreign

companies

are

more

restricted,

with

the

most

common

businessvehicles

for

foreign

investors

being:

Representative

Offices,Wholly

Foreign

Owned

Enterprises,

andJoint

Ventures.

The

fastest

and

easiest

method

for

a

foreign

company

to

establish

a

“footprint”

in

China

is

through

registration

ofa

Representative

Office

ofa

foreign

company.

While

this

is

true,

there

are

certain

factors

that

must

be

considered

when

deciding

whether

a

Representative

Office

isthe

appropriate

structure.

Wholly

Foreign

Owned

Enterprises

or

limited

liability

companies延时符ListeningTask(Script)Listentothepassage.Thenfillintheblankswiththemissingwordsyouhear.

whose

investors

are

purely

foreign

are

quickly

becoming

the

most

popular

method

offoreign

investment

in

China.

While

foreign

companies

once

thoughtthat

alocalpartnerwas

necessaryto

operatebusiness

in

China,

this

is

increasingly

no

longer

the

case

in

a

wide

range

ofindustries.

Generally

a

certain

minimum

amount

ofcapital

which

must

be

registered

will

range

from

RMB

30,000

to

several

millionRMBforlargerprojects.

JointVenturesrefertoaregisteredlegalentitycooperation

between

at

least

one

foreign

investor

and

one

Chinese

investor.

This

structure

was

previouslymorecommon,thoughithasbeen

steadily

decreasing.

Choosing

themostappropriatestructureforyourbusinessrequirescarefulthought.SpeakingPracticePart

Three延时符SpeakingPractice延时符Workingroupsanddiscussthefollowingquestions.(1)Howmuchdoyouknowaboutthefollowingstructures:self-employment(soletrader),partnership,company?Andwhataretheiradvantagesanddisadvantages?AdvantagesDisadvantagesSelf-employment/Soletrader•Simpletosetup,andatminimalcost•Financialstatementsarenotrequiredbutaccountsareneededtocalculateassessableincome•Unlimitedliability•Notaseparatelegalentity•OftendifficultseparatingpersonallifefrombusinessPartnership•Sharingofknowledge,skillsandresources•Nolimitonthenumberofpartners•Limitedopportunityforincomesharing•Allpartnershavejointliabilityforanydebts•NotaseparatelegalentityCompany•Liabilityislimitedtoamountpayableonshares•Raisingfinancebysellingshares•Sellinginvestmentbysellingshares•Administrativerequirements•Directorsmaybeheldpersonallyresponsible•Legalrequirements•IncreasedleveloftaxationcompliancerequirementsSpeakingPractice延时符(2)WhatdoLLCandLLPstandforrespectively?Whatarethedifferencesbetweenthem?LLCstandsforLimitedLiabilityCompany,whichisthestrongestassetprotectiondeviseforabusiness.TheLLCofferslimitedliabilitytotheownersofabusiness.LLPstandsforLimitedLiabilityPartnerships,atypeofgeneralpartnership.ManyattorneysandaccountantsfindLLPsafeasibleoptionasitprotectsthepartnersfromliabilities.SpeakingPractice延时符Thereisnoobviousansweraboutwhichstructureyoushouldchoose.Thetypeofstructureyoudecideuponwillreflecttheneedsofyourbusiness.Youmayconsiderthefollowingquestions:•Yourpresentcircumstances•Yourcommercialobjectives•Therisksoftheventure•Thelevelofcontrollingyourdesire•Thetaxationimplicationsofprofitandanyfuturesaleoftheinvestment•Thefundingarrangements•Whetherthebusinessisneworalreadyestablished•Theadministrationrequirementsandcosts•Theexpectedcontinuityofthestructure•Theinternalstructure,employees,andwhowillmanagetheentity,etc.(3)Whatshouldyouthinkaboutwhenconsideringwhichentityisbesttoconductyourbusinessactivitythrough?TextAppreciationPart

Four延时符

TextLearning

TextAnalysisText

Learning延时符PartnershiporCompany?Oneofthefirstdecisionsyouneedtomakewhenstartingabusinessiswhattypeofentityyournewventurewillbe.Thereareadvantagesanddisadvantagestoeachstructureanditisimportanttoconsiderhowyouexpectyourbusinesstooperatebothnowandinthefuture.Theshareholdersinacompanyarenotpersonallyliableforthedebtsofthecompany.Thecreditorshaverecourseonlytotheassetsofthecompany,andcannotlookbeyondthat(unlessthedirectorshaveactedoutsidetheirauthorityasdirectorsorincertainothercircumstanceswheretheymaybepersonallyliable).Eachpartnerinapartnership,however,ispersonallyliableforthedebtsofthepartnershipdowntotheshirtonhisback.Thatappliesevenwhenheknowsnothingaboutthedebt,forexample,ifanotherpartnercommitsthepartnershiptoit,orsomeonemakesasuccessfulclaimagainstthepartnership.12Text

Learning延时符entity:（formal）独立存在物；实体e.g.Themindexistsasaseparateentity.venture:

(尤指有风险的)企业

e.g.Adisastrousbusinessventurelosthimthousandsofdollars.shareholders:股东e.g.Theshareholderswantmoresayinhowthecompanyisrun.liable:（法律上）负有偿付责任e.g.Youwillbeliableforanydamagecaused.

Thecourtruledhecouldnotbeheldpersonallyliableforhiswife’sdebts.Text

Learning延时符debt:借款；欠款；债务e.g.IneedtopayoffallmydebtsbeforeIleavethecountry.

anoutstandingdebtof£300creditor:

债权人；债主；贷方

e.g.Thecompanysaiditwouldpayinfullallitscreditors.recourse:[经]追索权e.g.Thefinancecompanywilloftenrequirethedealertoenterintoarecourseagreement.assets:资产；财产e.g.thenetassetvalueofthecompanyHerassetsincludesharesinthecompanyandahouseinFrance.Text

Learning延时符directors:董事e.g.She’samotherandcompanydirectorinone.authority:

权；职权

e.g.Onlythemanagerhastheauthoritytosigncheques.partnership:合伙企业e.g.ajuniormemberofthepartnershipmakeaclaim

:索赔(=lodge/fileaclaim)e.g.I’mtryingoutanewcomputer.Text

Learning延时符Acompanyisasinglelegalperson(knownasabodycorporate),abletomakecontractsthroughitsdirectorsorotherstaff.Justlikeyouorme,acompanymustcomplete

taxreturnsandgenerallyabidebythelaw.Apartnership,ontheotherhand,ismadeupofindividuals,anyoneofwhommaycommitthepartnershiptoanyagreement.Thepartnershaveacollectiveresponsibilityforallthetaxofthepartnership(justastheyhaveforallotherpartnershipdebts).Thepartnersmaymaketheirownarrangementsfordivisionoftasks,responsibilityandliability.Apartnerisnotanemployeebutthepartnerstogethermayemployothers.3Text

Learning延时符legalperson:

法人；

e.g.InScotlandafirmisalegalpersondistinctfromthepartnersofwhomitiscomposed.taxreturn:纳税申报单e.g.Thetwomajorconceptsofincomethatappearonthetaxreturnare:adjustedgrossincomeandtaxableincome.abideby:遵守，遵照（法规、约定等）e.g.Theyhavegottoabidebytherules.partners:

合伙人e.g.He’sapartnerinaChicagolawfirm.collective:集体的；共有的；共同的e.g.collectiveleadership/decision-making/responsibilityText

Learning延时符Acompanyexistsandperformsentirelywithinanextremelycomplicatedframeworkcontainedinavastnumberofpagesofthecompanies’acts.Thedutiesofdirectorsarespecified.Amongmanyothers,thedirectorsmustkeeparegisteroftheshareholdersanddirectors,andofchargesagainstthecompany.Partnershipisbarelyregulatedatall.Resolutionofdisputesbetweenthepartners,anddivisionsofpartnershipassetscancauseparticularanguishiftheyarenotproperlycoveredinthepartnershipagreement.However,lessregulationgivesapartnershipscopeforalessformal,moreflexibleandmoreeasilychangedstructure.4Text

Learning延时符register

:

登记；注册

e.g.theofficialregisterofbirths,deaths,andmarriagesHaveyousignedthehotelregister?charges:指控;控告e.g.Hemaystillfacecriminalcharges.barely:几乎不；几乎没有e.g.Shebarelyacknowledgedhispresence.

Therewasbarelyanysmell.Text

Learning延时符resolution:（问题、分歧等的）解决，消除e.g.Thegovernmentispressingforanearlyresolutionofthedispute.anguish:

剧痛；极度痛苦；苦恼

e.g.Hegroanedinanguish.Tearsofanguishfilledhereyes.scope:（题目、组织、活动等的）范围e.g.Ourpowersarelimitedinscope.Thissubjectliesbeyondthescopeofourinvestigation.Text

Learning延时符ThecompanyrecordsprovidedtotheRegistrarofCompaniesareopentopublicinspection.Theentireworldcanseethenamesandprivateaddressesofdirectorsandalltheotherinformationfiledbyacompany.Thisinformationincludestheaccountsofacompany,thoughsmallcompaniesmayfileanabbreviatedformofaccounts.Thereisnoobligationonapartnershiptodiscloseanythingtothepublic.Thisisamatterofpracticeandchoiceratherthanoflaw.Forapartnership,althoughthereisnodifficultyinprincipleinsettingoutaprecisesetofduties,obligations,andrightsforeachpartner,inpractice,partnerstendtothinkofthemselvesasequal,eventhoughsomemaybe“moreequalthanothers.”Itisthereforeeasiertoallocatepreciseroleswithinacompanystructurethaninapartnership.Thus,individualswhomightbeapartnerinapartnershipsituationmaybeshareholders,butnotnecessarilydirectors,inacompany.56Text

Learning延时符inspection:

检查；查看；审视

e.g.Thedocumentsareavailableforinspection.accounts:账目e.g.todotheaccountstheaccountsdepartmentabbreviated:缩写的；缩简的e.g.Itwasanabbreviateddocumentwithoutdetailedproposals.obligation:

义务；职责；责任e.g.Youareundernoobligationtobuyanything.

Shedidnotfeelunderanyobligationtotellhimthetruth.Text

Learning延时符disclose:揭露；透露e.g.Thespokesmanrefusedtodisclosedetailsofthetakeovertothepress.

Thereportdisclosesthathumanerrorwastoblamefortheaccident.

allocate:拨…（给）；划…（归）；分配…（给）e.g.Theyintendtoallocatemoreplacestomaturestudentsthisyear.

Alargesumhasbeenallocatedforbuyingnewbooksforthelibrary.Moreresourcesarebeingallocatedtotheproject.Text

Learning延时符Asolicitordrawnpartnershipagreementislikelytocostmorethanan“offtheshelf”limitedcompany.Theongoingmaintenancecostofacompanyishigher,asaresultofthestatutoryfilingrequirements.Ithasbeensaid,“Partnershipisthemostunstableshipthateversailed.”Disputesinapartnershipstructuretendtobemoredifficulttoresolvethandisputesamongdirectorsandshareholdersofacompany.Butinpart,thismaybeduenottotheinherenttypeofstructure,butrathertothefactthatsomanypartnershipsjusthappen,withnoformalpartnershipdeed.Youneedapartnershipagreementtokeepyourselfsafe.78Text

Learning延时符solicitor:

事务律师，诉状律师e.g.Youneedtoseeasolicitor.asmallfirmofsolicitorsofftheshelf:现成的;不用定制的e.g.Iboughtthispackageofftheshelf.maintenance:维护；保养e.g.Theschoolpaysforheatingandthemaintenanceofthebuildings.

carmaintenancestatutory:法定的；依法必须执行的e.g.Theauthorityfailedtocarryoutitsstatutoryduties.

Whenyoubuyfoodsyouhavecertainstatutoryrights.Text

Learning延时符unstable:不稳定的e.g.Thesituationthereremainsveryunstable.anunstablerelationshipdispute:争端；纠纷e.g.Thefirmisinvolvedinalegaldisputewitharivalcompany.Hegotintoadisputeoverataxifare.inherent:固有的；内在的e.g.thedifficultiesinherentinastudyofthistypeaninherentweaknessinthedesignofthemachinedeed:契约、证书e.g.amortgagedeedText

Learning（译文）延时符合伙制还是公司制？

今天开创企业所面临的首要决策就是需要决定新企业的实体类型。每种类型的企业结构都有其优势与劣势，重要的是，要考虑期望企业目前以及将来如何运营。

在公司制当中，股东个人不对公司债务负责。债权人只对公司资产拥有追索权，而不能超越公司资产范围（除非董事超越其权限代理公司行为或者在某些特定情况下，需要其个人对公司负责）。然而，合伙制企业的每位合伙人都需要对合伙企业债务负个人责任，这意味着他身穿的一件衬衫可能也要用来还债。即便在合伙人对债务一无所知的情况下也是如此，例如，另一合伙人以企业抵债，或者有人对合伙企业提出有效的权力主张（或索赔要求）。12Text

Learning（译文）延时符

公司是独立法人，或者叫社团法人，可以通过其董事成员或其他员工缔结合同。正像普通民众一样，公司也必须完成纳税申报单，并遵守相关法律。而对于合伙企业来说，它由个人组成，每个人都可以以合伙企业名义缔结任何协议。所有合伙人对合伙企业的全部税务共同承担责任（如同他们需要对合伙企业全部债务共同承担责任一样）。合伙人可以自行对任务、责任和义务分配做出安排。合伙人不是雇员，但合伙人们作为一个整体可以雇用其他人员。3Text

Learning（译文）延时符

公司的存在和运营完全是在大量公司法条文所规定的极其复杂的框架下进行的。其中明确阐述了董事的义务。这当中包括董事必须对所有股东和董事进行登记造册，并记录公司诉讼方面的事宜。合伙企业则几乎没有什么限制。如果合伙协议中没有很好地面面俱到，合伙人在解决意见分歧、划分资产时可能会引起一定的纠纷。但较少的限制和规则令合伙企业的模式显得不是很正式，也更灵活，企业结构更容易改变。4Text

Learning（译文）延时符

公司提供给公司注册机构的资料是对公众开放的。全世界都可以看到董事的姓名和私人地址，以及公司提交的其他任何信息，包括公司账目，当然规模较小的公司可能会提交简化的财务报表。而合伙企业则没有义务向公众披露任何信息。

与其说这是个法律问题，不如说是实践和选择的问题。对合伙企业来说，尽管原则上对每个合伙人的义务、责任和权利做出详尽规定并不难，但在实践中，合伙人们倾向于认为他们都是平等的，即使一些人会比其他人更“平等”一些。所以，相对于合伙企业而言，公司制企业中更容易明确职位职能。因此，合伙企业中的合伙人在公司制企业中可以是股东，但不一定是董事。65Text

Learning（译文）延时符

律师起草合伙协议要比现成的有限公司章程费用更高。而由于提交法定文件的规定，公司的一般维持费用则更高一些。有这样一种说法：“合伙制企业是航行最不稳的船。”合伙制结构下的纠纷一般比公司制下董事和股东间的纠纷更难以解决。但从某种程度上来说，这并不源于这一结构的内在问题，而更多是由于许多合伙企业都没有正规的合伙契约。一份合伙协议对于保障合伙人的安全是非常必要的。78Text

Analysis(Structure)延时符1.Readthearticleand

completethe

chart.Text

Analysis(Answers)延时符1.Readthearticleand

completethe

chart.Text

Analysis(Structure)延时符2.Readthearticleandanswerthefollowingquestions.(1)Whatisthesimplerandcheaperwaytostartupabusiness,partnershiporcompany?Why?Comparativelyspeaking,partnershipsarecheaperandsimplersincetheyareunincorporatedbusinessesoperatedbytwoormoreindividuals,whicharenotdistinctlegalentities.Text

Analysis(Structure)延时符(2)Giveanaccountofthefeaturesofpartnershipsinyourownwords.Partnershipsareunincorporatedbusinessesoperatedbytwoormoreindividuals.Profitsandlossesfromapartnershipareincorporatedintoeachpartner’sindividualpersonalincometaxes.Thereareseveraldrawbackstothisstructure.First,partnersinapartnershipfaceunlimitedliabilityforthedebtsofthepartnership.Second,ifasinglepartnerisunabletomeetanobligation,thentheremainingpartnersareliablefortheoutstandingobligation.Finally,theexistenceofapartnershipislimitedtothephysicallivesofthepartiesresponsiblefortheentity’sformation.Text

Analysis(Structure)延时符（3）Whataretheadvantagesanddisadvantagesofcompanies?Corporationsaredistinctlegalentitiesseparatefromtheirowners(shareholders)andemployees.Asaseparateentity,acorporation’sliabilitiesarenottransferabletoshareholders,whosepersonalassetsarenotatriskforsatisfyingcorporatedebtsorliabilities.Andasaresultofitsindependence,acorporationcanexistbeyondtheyearsofitsfounderssolongasitremainscapableofmeetingitsfinancialobligations.Text

Analysis(Comprehension)延时符Choose

the

best

answer

to

each

of

the

following

questions

after

reading

the

articlecarefully.(1)Whatwillthetypeofcorporatestructureofanewbusinessreflect?A.

Theproductsofthebusiness.B.Theexpectationoftheowner.C.Theneedsofthemarket.D.Theknowledgeoftheowner.(2)WhichisNOTtrueaccordingtoParagraph2?A.Theshareholdersinacompanyarenotpersonallyliableforthedebtsofthecompany.B.Thepartnersinapartnershiparepersonallyliableforthedebtsofthepartnership.C.Thecreditorsofacompanyhaverecourseonlytotheassetsofthecompanyandcanbynomeanslookbeyondthat.D.Thepartnersareliableforthedebtsevenwhentheyknownothingaboutthem.(3)Acompanycanberegardedas_____.A.agroupmadeupofindividualsB.directorsandstaffC.asinglelegalpersonD.employersandemployeesBCCText

Analysis(Comprehension)延时符(4)Whichofthefollowingstatementsistrueaboutpartnershipsandcompanies?A.Companiestakemoreliabilitythanpartnerships.B.Lessregulationonlygivespartnershipsanguish.C.Partnershipshavetodisclosesomethingtothepublic.D.Themaintenancecostofcompaniesishigher.(5)It’ssaidthat“partnershipisthemostunstableshipthateversailed.”Howdoyouunderstandthissentence?A.Disputesinpartnershipstendtobemoredifficulttoresolve.B.Partnershipisthebesttypeofcorporatestructure.C.Partnershipisthemostdangeroustypeofcorporatestructure.D.Don’tconsiderpartnershipwhenyoustartyournewbusiness.ADText

Analysis(Vocabulary)延时符(1)venture:

n.anewactivity,usu.inbus