TYPES OF BUSINESSES.

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Presentation transcript:

TYPES OF BUSINESSES

Start-ups to set up to establish a business to found a company to form to start a business a company

COMPANY LAW (Companies Act) Who owns the business? Who raises start-up capital? Who manages it? Who claims the profits? Are the owners personally liable for losses? Does the business need to publish (disclose, unveil) its accounts? ...

Words, words... Opposites? Privately-held companies Limited liability Incorporated business Legal entity (legal person)

Opposites (key) Privately-held companies Limited liability Incorporated business Legal entity (legal person) Publicly-held companies Unlimited liability Unincorporated business Natural person (physical person)

Match the two columns: Set up Be liable Make Claim Issue Elect Disclose Take over a profit the Board a loss a company Shares a business the company’s accounts for the company’s debts profits

Key: Set up Be liable Make Claim Issue Elect Disclose Take over a business for debts a profit a loss the profits Shares the Board Accounts A company

Privately-held vs. publicly-held companies Privately-held companies are owned by the company's founders, management or a group of private investors. (Investopedia) A public company is a company that has sold a portion of itself to the public via an initial public offering of some of its stock. The company’s shares are listed on the stock exchange. (Investopedia) Attention! The meaning of “public”: private sector vs. public sector

Some examples from UK 1.Sole proprietorship s. trader, s. owner, s. proprietor 2.Partnership: general partnership, limited partnership 3.Private-limited company (Ltd.) 4.Public-limited company (Plc.)

Study the types of businesses in UK and answer the questions (RB:p 1.Sole proprietorship 2.Partnership 3.Private-limited company 4.Public-limited company Who owns the business? Who raises start-up capital? Who controls the business? Who manages it? Who claims the profits? Are the owners personally liable for losses? Does the business need to disclose its accounts?

Answer the questions (R:p.22) 1.Sole proprietorship 2.Partnership 3.Private-limited company 4.Public-limited company Ownership? Start-up capital? Control? Management? Claim on profits? Liability? Disclosure?

Describing UK businesses (RB: p.48): ...is a type of business which ... It is controlled by ... and managed by... This business is financed by ... Business decisions are made by ... ... has/have a claim on profits. ... is (are) /is not(are not) personally liable for ... because this business has limited/unlimited liability.

Contrastive chart (R: p.54) 3 abbreviations for a corporation? Adjectives describing a partner in a partnership (tot. 7)? Abbreviation for “brothers”? What does LLC stand for? What is the US equivalent for AGM? Find a plural form for “Mr”. What is the closest UK equivalent for the Croatian komanditor?

And Croatia? Study the types of businesses in Croatia and answer the questions below the text (RB:p.51)