partnership registered shares soletrader financial bankruptcy – bankructwo premises capital prospectus files to go bankrupt – zbankrutować creditor – wierzyciel TYPES OF BUSINESS debtor – dłuż nik to issue shares – emitować akcje The simplest form of business is the individual proprietorship or (1) liability – odpowiedzialnoś ć .......sole trader................: for example, a shop (US = store) or a taxi (finansowa) owned by a single person. If several individuals wish to go into to be liable for company's debts – business together they can form a (2) ................partnership.........; odpowiadać za długi spó łki partners generally contribute equal capital, have equal authority in partnership – spó łka osobowa management, and share profits or (3) ......losses............. . In many individual proprietorship – countries, lawyers, doctors and accountants are not allowed to form jednoosobowa działalnoś ć companies, but only partnership with unlimited (4) ...........liability.... gospodarcza for debts – which should make them act responsibly. sole trader – przedsię biorca indywidualny, osoba prowadząca But a partnership is not a legal entity separate from its owners; like jednoosobową działalnoś ć sole traders, partners have unlimited liability: in the case of (5) gospodarczą ...............bankruptcy.........., a partner with a personal fortune can lose it financial statements – all. Consequently, the majority of business are limited companies (US sprawozdania finansowe = (6) ....................corporations.......... ), in which investors are only liable premises of a company – siedziba for the amount of capital they have invested. If a limited company spó łki, teren, lokal etc. należ ący do goes bankrupt, its assets are sold (liquidated) to pay debts; if the spó łki share capital – kapitał assets do not cover the debts, they remain unpaid (i.e. (7) zakładowy ....................creditors............ do not get their money back.) authorised share capital – kapitał docelowy In Britain, most smaller enterprises are private limited companies prospectus – prospekt emisyjny which cannot offer (8) .............shares.......... to the public; their owners to file documents/applications – can only raise capital from friends or from banks and other venture złoż yć dokumenty/podania capital institutions. A successful, growing British business can apply to contribute capital – wnosić to the Stock Exchange to become a public limited company; if kapitał accepted, it can publish a (9) ...............prospectus............ and offer its equal authority – ró wne shares for sale on the open stock market. In America, there is no legal uprawnienia distinction between private and public limited corporations, but the to share profits and losses – dzielić equivalent of a public limited company is one (10) zyski i straty ..........registered........................... by the Securities and Exchange legal entity – podmiot prawny Commission. an amount of capital – wielkoś ć kapitału assets – aktywa, majątek FOUNDING A COMPANY to cover the debt – pokrywać długi stock market, stock exchange – Founders of companies have to write a Memorandum of Association giełda papieró w wartoś ciowych (in the US, a Certificate of Incorporation), which states the company's company's name – firma spó łki name, purpose, registered office or premises and authorised share company's registered office – (11) ..................capital..................... . siedziba spó łki (12 ......................premises............... (always with an 's' at the end) - is the registrar/registry of companies – technical term for the place in which a company does its business: an rejestr spó łek office, a shop, a workshop, a factory, a warehouse, etc. Authorised Memorandum of share capital means the maximum amount of a particular type of Association/Certificate of shares the company can (13) ...................issue................... . Association – akt zawiązania Founders also write Articles of Association (US = Bylaws), which set spó łki out the rights and duties of directors and different classes of Articles of Association/Bylaws – shareholders. Companies' memoranda and articles of association, and umowa spó łki annual (14) ............financial........................... statements are sent to the founders – założ yciele registrar of companies, where they may be inspected by the public.) A to raise capital – zdobywać company that (15) .................files.................. its financial statements late fundusze, kapitał is almost certainly in trouble.) In Britain, founders can buy a ready- venture capital – kapitał made “off-the-shelf” company from an agent, that is, a company wysokiego ryzyka formed and held specifically for later resale; the buyer then changes i.e. – to jest, to znaczy the name, memorandum, and so on. KRS (Krajowy Rejestr Sądowy) – National Court Register KNF (Komisja Nadzoru Finansowego) – Financial Supervision Authority spó łka z o.o. - limited liability company spó łka akcyjna – joint-stock company statut spó łki akcyjnej – statute, articles of association umowa spó łki osobowej – partnership agreement