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issue and sell stock in exchange for investment capital.
3.
A corporation is the owner of the property.
It has limited
liability.
4.
Dick is a manager. He wants to form a corporation.
5.
A corporate charter is a certificate of incorporation. A charter is
granted by a state officer.
6.
The stockholders are the owner of the corporation. They have
final authority in management of the company.
7.
The owner of the corporation is the stockholders. The owners of
the corporation must vote.
Exercise 2. Transform the sentences according to the model.
M o d e l:
We organized our corporation a year ago (to
invest much
money).
We have been investing much
money since we organized
our company.
1.
They became company officers (to
supervise daily
management).
2.
My friend bought the stock of the company five years ago (to
make money).
3.
They received the corporate charter a month ago (to
plan a
meeting).
4.
We advertised the application last week (wait for reply).
5.
He became a member of the Board of Directors (work hard).
6.
We elected a new Board of Directors last month (plan change).
Exercise 3. Answer the questions
.
1.
In what corporation would you invest money?
2.
What legal procedure do you have to follow if you want to form
a corporation?
3.
Who has final authority and supervises the daily management of
corporation?
4.
How often do the stockholders choose the company officers?
5.
The stockholders have unlimited liability, don’t they?
6.
In what way a can corporations act?
7.
What do you think about the possibilities of forming
corporations in this country?
8.
In what spheres of industry is a corporate form of proprietorship
the most beneficial in this country?
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