G Competitive Tendering and Joint Bids.

Read the following definitions and match them to words in bold in the advertisement below.

1A group of companies who work together only for a particular contract.
consortium .

2A company owned and run by two or more people who do not receive interest on capital invested in the company.

__________________.

3A company which is 100% owned by a parent company.

__________________.

4A project with two or more partners.

__________________.

5Someone brought in to work on part of a large project.

__________________.

6A formal proposal to do something at a certain price in a certain time period.

__________________.

H Company Strength and Market Position

Complete the words below to match the given meanings.

Notice the difference in meaning between the verbs take over and overtake.

Take over: obtain or assume control of something, or gain control of something from somebody else.

Overtake: to catch up with and pass a person, a vehicle travelling in the same direction or a competitor.

Atakeover (notice spelling of noun) is generally a hostile merger where the company taking control of another does so against its wishes. A merger is usually a common decision, welcomed by both parties.

I Company Law

The following text introduces the area of company law. Complete the text by using the words in the box below.

A company is a 1) legal entity, allowed by 2)__________, which permits a group of people, as 3)__________, to create an organization, which can then focus on pursuing set 4)__________. It is empowered with legal rights which are usually only reserved for individuals, such as the right to 5)__________ and be sued, own 6)__________, hire 7)__________ or loan and 8)__________ money. The primary advantage of a company structure is that it provides the shareholders with a right to participate in the 9)__________, a proportionate distribution of profits made in the form of a money payment to shareholders, without any personal 10)__________.

There are various forms of legal business entities ranging from the 11)_________, who alone bears the risk and responsibility of running a business, taking the profits, but as such not forming any association in law and thus not regulated by special rules of law, to the 12)__________ company with 13)__________ liability and to multinational 14)__________. In a 15)__________, members “associate”, forming collectively an association in which they all participate in management and sharing 16)__________, bearing the liability for the firm’s 17)__________ and being sued jointly and severally in relation to the firm’s contracts or tortious acts.

Limited- liability companies, or corporations, unlike partnerships, are formed not simply by 18)__________ entered into between their first members; they must also be 19)__________ at a public office or 20)__________ designated by law or otherwise obtain official acknowledgement of their existence.

Date: 2015-12-24; view: 1390